What CAs need to know this week: 14 December 2015

Ca Today_cityscape
By Michael McGlinchey, CA Today

14 December 2015

A look ahead to some of the key things happening this week.

Fed decision on interest rates

The US Federal Reserve is due to announce its latest decision on interest rates on Wednesday. Fed Chair Janet Yellen has already indicated that the interest rate may rise from its near-zero level for the first time in a decade, in the light of current economic conditions.

[USA Today]

Housing market updates

Tuesday will see end of year UK housing market data from the Council of Mortgage Lenders (CML), which publishes details of the latest lending trends. The Office of National Statistics will release the latest house price figures. Recent figures from the CML revealed that the average deposit for a first time buyer in the UK was £24,000.

[Daily Mail]

Swinney to deliver Budget statement

Finance Secretary John Swinney will announce forthcoming spending priorities for the Scottish Government on Wednesday and will confirm the new Scottish Rate of Income Tax which is due to come into effect on 6 April, 2016.

[Scottish Government]

Latest unemployment figures published

The latest unemployment figures for the UK will be published on Wednesday. Figures released last month for July to September showed that the number of people out of work fell by 103,000 to 1.75m, the lowest rate since April 2008. The Office for National Statistics said this showed a “strengthening trend in the labour market”.

[BBC News]

Mid-year insights on economy

The latest update on the Australian Government’s budget position will come on Tuesday with the publication of the Mid-Year Economic and Fiscal Outlook. Other indicators for the economy will be provided by publication on Tuesday of the minutes from the Reserve Bank of Australia’s last board meeting on 1 December.

[economy watch]

Last deep coal mine set to close

The UK’s last operational deep coal mine at Kellingley in North Yorkshire is set to close on Friday, bringing to an end an industry which dates back to the industrial revolution.

[Yorkshire Post]

Petrofac update amid continuing oil price slide

This week’s market news will include interim results from electrical and telecoms retailer Dixons Carphone and Miton Asset Management Group. Oil services company Petrofac will issue its latest trading statement amid a continuing slump in oil prices and a restructuring of its operations.



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