It’s reported that the rate hike at yesterday's U.S. Federal Reserve (Fed) meeting was lower than previous ones. However, the Fed says that interest rates will continue to rise next year, despite the apparent easing.
Employment in Australia saw an apparent surge in November — more than triple what economists had expected. The jobless rate remained steady at a 48-year low, showing the need for further interest rate hikes in 2023.
Oil prices keep rising for the third day in a row as part of the shutdown of Canadian pipeline Keystone, being crucial to refineries in western part of the U.S. The cost of fuel continues to rise due to the accident, despite a significant weekly surge in the U.S.crude stocks.
As it became known on December 14, Morgan Stanley analysts suggest crude oil prices to rise back to the level of about $110 per barrel by the middle of the upcoming year.
The Bank of Japan meeting will be on December 20. It is planned to keep interest rates ultra-low and the dovish forecast.
The November drop in economic activity in China was noted even before the Chinese government abruptly abandoned its zero-tolerance COVID-19 policy. However, a new decline is possible as the infection spreads further.
The Federal Reserve's speech turned out to be much more aggressive than expected. In connection with this, there is a decrease in the prices of gold and silver on Thursday. There is still uncertainty in the precious metals market because of the likely increase in interest rates in the U.S.
The Bank of England said on Tuesday that it would launch stress tests of investment funds and other financial institutions outside the banking sector next year. This move comes after the recent near-collapse of the UK pension sector.
According to Reuters, the European Central Bank expects inflation to remain above the 2% target over the next three years. This percentage is considered higher than the markets would currently expect. It means the bank's fight against rampant price increases is not over.
Germany’s federal government is planning to issue a record amount of debt in 2023. These measures are aimed at providing financial support to households and companies affected by the energy crisis.
