Why Trump’s new pick for Fed chair hit gold and silver markets – for good reasons 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
RBA Deputy Governor Says November Inflation Slowdown Helpful but Still Above Target 
Japan Declines Comment on BOJ’s Absence From Global Support Statement for Fed Chair Powell. Source: Asturio Cantabrio, CC BY-SA 4.0, via Wikimedia Commons 
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BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
As expected the MPC members again voted 8-1 for keeping the rates unchanged and unanimously to maintain the stock of purchased assets at the 9 December MPC meeting. This was the fifth time in row that the MPC member Ian McCafferty preferred an increase in the bank rate by 25 basis points.
The December MPC minutes stated that overall there has been little news since the November Inflation Report. The only more material news on the month had been in costs. The Committee noted that the price of oil had fallen markedly again, increasing the likelihood that headline inflation rates would remain subdued, and nominal wage growth has levelled off".
Furthermore, the minutes again stated that "There was no mechanical link between UK policy and those of other central banks, and the UK policy stance would be determined ultimately by the inflation outlook".
"We keep our forecast that the BoE will start hiking rates in Q2 next year", says Nordea Bank.
