Minyanville provides a great synopsis of the week ahead.
Next week the main event will be Wednesday’s FOMC meeting. Expectations that the Fed will cut back its asset purchase plan have changed — many believe the taper will be announced at next week’s meeting instead of in March, as had been anticipated. Additionally, it is expected that the Fed will strengthen its forward-guidance-policy tool by lowering the unemployment-rate threshold or adding other quantiative metrics to it.
The consumer price index will be released on Tuesday morning. Economists are expecting prices to accelerate to an annual rate of 1.3% in November from 1.0% in the prior month. Other notable economic reports scheduled for the coming week are September through November housing starts, existing home sales, and the final estimate of third-quarter US GDP.
In the coming week, the Bank of Japan will update its target for expanding the monetary base in 2014. Additionally, the Reserve Bank of India will issue its monthly monetary policy statement. Lastly, China and Europe will release preliminary estimates of December manufacturing activity.
Click here for full calendar.