Economic Calendar: FOMC Decides on Interest Rates

Today's trading session will be largely dominated by the Federal Reserve's decision on interest rates, which is undoubtedly the most important event of the day. In Europe, investors will closely monitor inflation data from Norway and the Czech Republic, as well as industrial production figures from Sweden, Slovakia, and Italy, which can provide insights into the state of the economy at the end of the year. In the afternoon, key attention will be on speeches by ECB President Christine Lagarde and BoE Governor Andrew Bailey, as their comments may shed light on the direction of monetary policy in 2026.

The highlight of the day remains the FOMC meeting on interest rates and the publication of macroeconomic projections. While the market expects rates to remain in the 3.50–3.75 percent range, investors will focus on the tone of the statement and any guidance from Jerome Powell during the evening press conference. Additionally, the Bank of Canada’s interest rate decision will add another focal point to the North American session, potentially increasing volatility in financial markets.

China

• 02:30 – CPI (y/y) – November: actual 0.7% (forecast 0.7%, previous 0.2%)

• 02:30 – PPI (y/y) – November: actual -2.2% (forecast -2.2%, previous -2.1%)

Norway

• 08:00 – CPI (y/y) – November: actual 3% (forecast 3%, previous 3.1%)

• 08:00 – Core CPI (y/y) – November: actual 3% (forecast 3%, previous 3.4%)

Sweden

• 08:00 – Industrial Production s.a. (y/y) – October: actual 5.9% (previous 14.6%)

Turkey

• 08:00 – Industrial Production (y/y) – October: actual 2.2% (previous 2.9%)

Romania

• 08:00 – Foreign Trade Balance (EUR) – October: actual -3 bn (previous -2.48 bn)

Czech Republic

• 09:00 – CPI financial (m/m) – November: previous 0.5%, forecast -0.3%

• 09:00 – CPI financial (y/y) – November: previous 2.5%, forecast 2.1%

Slovakia

• 09:00 – Industrial Production (y/y) – October: previous 0.7%, forecast -2%

Italy

• 10:00 – Industrial Production (m/m) – October: previous 2.8%, forecast -0.4%

United Kingdom

• 11:45 – Public speech by BoE Governor Andrew Bailey

Eurozone

• 11:55 – Public speech by ECB President Christine Lagarde

United States

• 13:00 – Mortgage Applications – week: previous -1.4%

• 14:30 – Employment Cost Index (q/q) – Q3: forecast 0.9%, previous 0.9%

Canada

• 15:45 – BoC Interest Rate Decision – December: forecast 2.25%, previous 2.25%

• 16:30 – Bank of Canada Press Conference – December

United States

• 16:30 – Weekly Petroleum Inventories:

  • Crude Oil Change – week: forecast -1.7 mln bbl, previous 0.57 mln bbl

  • Gasoline Change – week: forecast 2.3 mln bbl, previous 4.52 mln bbl

  • Distillates Change – week: forecast 1.5 mln bbl, previous 2.06 mln bbl

• 20:00 – FOMC Interest Rate Decision – December: forecast 3.50–3.75%, previous 3.75–4.00%

• 20:00 – FOMC Macroeconomic Projections

• 20:30 – FOMC Press Conference