What CAs need to know this week: 7 December 2015
A look ahead to some of the key things happening this week.
Bank of England MPC meets on interest rates
The Bank of England Monetary Policy Committee (MPC) will announce its latest interest rate decision on Thursday with indications that there will be little movement until next year. UK rates have been at 0.5% since March 2009 and governor Mark Carney recently told MPs that could be the case for some time as the MPC keeps a close watch on economic recovery.
RBNZ rate cut anticipated
On Thursday, the reserve Bank of New Zealand will issue its monetary policy statement and official cash rate, with analysts predicting a cut from 2.75 per cent to 2.5 per cent.
Interim figures from Stagecoach Group plc
Stagecoach Group plc, co-founded by Sir Brian Souter CA, will post its interim results on Wednesday, having already reported increases in revenue growth. Interim results are also awaited from retailer Sports Direct plc and mining company ASA Resource Group, among others. Carillion plc, Centrica plc and Ocado Group plc will be among those issuing trading statements.
Lords and government clash on referendum vote
The House of Commons will consider Lords amendments to the European Referendum Bill on Tuesday. Peers, who recently unseated the government’s tax credit proposals, defeated ministers again on the euro bill by calling for voting to be lowered to include 16 and 17-year-olds. Ministers have vowed to defeat the amendment, which could result is procedural 'ping-pong' on the issue.
China economic updates awaited
Key official data from China this week will include trade balance figures on Tuesday while industrial production data due on Friday may give some indication of whether China’s economy is starting to pick up after a slowdown in recent months. Output from factories and mines fell to a six-month low in October.
Close watch on Japan GDP figures
Investors will be keeping a close eye on revised Japan GDP figures this week with some analysts predicting a slight upturn after a slip into recession in the six months to September. Positive indicators would be a tonic after an underwhelming response to the European Central Bank’s stimulus plan, announced last week, sent Asian markets into negative territory.