The markets are getting ready for the end of December, and due to the upcoming holidays there will be few notable events and economic data releases in the coming days as most of the major central banks have already announced their year-end decisions, with only the Bank of Japan remaining.
The following are highlights of the economic calendar this week
On Tuesday, the RBA meeting minutes will be released
At its last meeting at the beginning of the month, the Reserve Bank of Australia kept the interest rate unchanged at 1.50% for the 15th meeting in a row to keep its neutral approach as inflation is still away from the target.
New Zealand's growth data is due Wednesday
New Zealand GDP data is expected to be released for the third quarter and is expected to grow by 0.6% quarterly, after growing by 0.8% in the previous quarter.
The Bank of Japan will meet on Thursday
The Bank of Japan will be the last major central bank to meet this year. No change in monetary policy is expected amid strong economic recovery. Attention will also be drawn to the press conference of Haruhiko Kuroda, governor of the BoJ, to draw up information on the course of future policy.
Also, US growth data will be the focus of the markets, with the US economy expected to grow by 3.3% in the third quarter. Markets will monitor the coming days for tax adjustments and whether Trump will end the year with a legislative victory.
British growth data to be released on Friday
The UK growth data is due to be released, and the economy is expected to grow by 0.4% in the third quarter and 1.5% on yearly basis. The Bank of England kept interest rates unchanged at 0.50% last week.
