Bank of Japan Faces Rate Uncertainty Amid Middle East Oil Shock 
Bank of Japan Governor Signals Gradual Progress Toward 2% Inflation Target 
RBA Set to Hike Rates Again Amid Inflation Surge and Global Uncertainty 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
J.P. Morgan Now Expects Two ECB Rate Hikes Amid Inflation Pressures 
China Holds Benchmark Loan Prime Rate Steady for Tenth Consecutive Month 
RBA Raises Cash Rate to 4.10% in Closest Vote Since Transparent Voting Began 
Fed Rate Cut Hopes Fade as Oil Prices Stoke Inflation Fears 
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.
