Welcome to our regular Monday recap of the most important events that brought volatility to the markets during the past trading week.
At its last monetary policy meeting of the year, the European Central Bank raised interest rates by 50 basis points, marking the fourth consecutive increase.
At its December meeting last week, the Bank of England voted by a majority to raise interest rates by 50 basis points to 3.5 %, which was also expected by the market.
The most important event last week was the Fed meeting, which raised the rate by 50 basis points to 4.5 %, as the market also expected.
And what's in store for the current trading week?
In the current trading week, we turn our attention to Tuesday's Bank of Japan meeting, which will come at 4:00 am followed by a press conference. Currently, the central bank is expected to leave rates at -0.10 % again.
On behalf of the entire F.X.C.G. team, we wish you a peaceful Christmas and much success in 2023!