Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Jerome Powell Attends Supreme Court Hearing on Trump Effort to Fire Fed Governor, Calling It Historic 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
BOJ Holds Interest Rates Steady, Upgrades Growth and Inflation Outlook for Japan 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
RBA Expected to Raise Interest Rates by 25 Basis Points in February, ANZ Forecast Says 
FOMC will release its minutes of meeting at 19:00 GMT. However, this time around no major volatility in the financial markets is likely surrounding the release. The reasons for that are the following,
- First of all, this is the November meeting minutes, in which the Federal Reserve didn’t do anything. There was almost no new information in the statement. It was similar to September. The only difference was that in September, three policymakers; Esther George, Loretta Mester, and Eric Rosengren voted in favor of a rate hike but at the November meeting, Mr. Rosengren backtracked.
- Secondly, the market is pricing a 100 percent chance of a hike in the December meeting, so the financial market participants won’t be looking for cues to rate hikes. In addition to that, the minutes unlikely to shed light on the future path of the policy.
Nevertheless, the minutes are important in a sense that it would provide a fair idea on the issues of discussion among policymakers. It would also shed some light on the arguments behind hawkish calls and from those who voted against any action.
