Philip Jefferson, Vice Chair of the Board of Governors of the Federal Reserve System will be speaking at 1645 US Eastern time. These will be closing remarks from the Federal Reserve Division of Research and Statistics Centennial Conference. Earlier Powell gave the opening remarks, which were a fizzer:
After that will come the Bank of Japan Summary of Opinions report from the most recent meeting, back on October 30 and 31:
- Bank of Japan October 31 Statement – full text
- Bank of Japan Monetary Policy Statement: Changes language around 1% 10year JGB cap
The minutes of this meeting will be published on December 22, Merry Christmas.
Later in the session will be the inflation data for October from China. China’s consumer inflation rate was flat in June, m/m, while the ‘wholesale’ (PPI) was negative. There are concerns about deflation risks. China keeps adding stimulus, although so far its been piecemeal and not the ‘big bang’ stimulus we’ve seen in the past. Authorities there are grappling with high levels of debt which is acting as a contracting on stimulus, and growth. Having said this, there are signs of growth struggling off the canvas, this week we had a beat for imports data, often a sign of a recovering economy.
This snapshot from the ForexLive economic data calendar, access it here.
The times in the left-most column are GMT.
The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.