Week ahead: BoE, EU Summit, FOMC in focus

Investors will have their work cut out for them over the coming week, with both the Bank of England and the Federal Reserve set to meet to decide on interest rates.

No change in policy is expected from the Monetary Policy Committee next Thursday, but analysts at Barclays Research do expect the vote count to revert to a split, with seven rate-setters expected to support staying put, but with Michael Saunders and Ian McCafferty again making the case for a hike in Bank Rate.

"A repetition of the February MPC communiqué in March would definitively validate market expectations of a May hike and shift the focus towards the next step, currently priced in early next year," said Barclays.

Markets will also be closely watching the EU heads of state summit on Wednesday and Thursday, although expectations for a breakthrough on agreeing a transition deal at this meeting have faded, with the odds now apparently favouring a decision towards October.

Nevertheless, it may be a risk worth monitoring.

Also out on Thursday will be UK retail sales data for February, preceded by CPI figures on Tuesday and the latest employment and monthly public finance figures on Wednesday.

In particular, analysts will be watching the January figures on average weekly earnings contained in the first of those two reports.

Over in the States, all eyes will be on the Federal Open Market Committee's decision, also on Wednesday, with a 25 basis point hike in the Fed funds rate widely-expected.

Will US policymakers' median projection for interest rate hikes in 2018 rise from three to four?

No, said Barclays, that is more likely in June.

On Wednesday as well, central banks in the Philipines, Indonesia and Taiwan are due to decide on interest rates in their own jurisdictions.

Back in the euro area, they key economic release will come on Thursday, in the form of IHS Markit's 'flash' manufacturing and service sector PMIs, alongside the IFO German business confidence survey for March.

A speech from ECB chief Mario Draghi on Saturday 17 March, may also be worth watching, together with the first round of the Russian presidential elections on the next day.

In Asia, Friday will see the release of Japanese consumer price data (excluding perishables) for February.

On the corporate side of things, another raft of results and updates are due out, with many of those emanating from builders, including Berkeley (16 Mar), Michelmersh Brick (19 Mar), Bellway and Polypipe (20 Mar), Kingfisher (21 Mar) and an AGM from Crest Nicholson (22 Mar), Deutsche Bank points out.

Interspersed among those will be the latest house price data from Rightmove, come Monday, with Land Registry slated to take a stab at it on the following day - yes, on Tuesday.

Monday March 19

INTERIMS

Finsbury Food Group, Volution Group (WI)

QUARTERLY PAYMENT DATE

SQN Asset Finance Income Fund Limited, SQN Asset Finance Income Fund Limited 'C Shares'

QUARTERLY EX-DIVIDEND DATE

Total SA

GMS

Macau Property Opportunities Fund Ltd.

FINALS

ADES International Holding (DI) , Gama Aviation , Learning Technologies Group , MD Medical Group Investments GDR (Reg S), Michelmersh Brick Holdings, Miton Group, Spectra Systems Corporation, Tissue Regenix Group

SPECIAL DIVIDEND PAYMENT DATE

Booker Group

AGMS

Chenavari Toro Income Fund Limited NPV

Tuesday March 20

INTERIMS

Bellway, Blancco Technology Group, Ceres Power Holdings, Genedrive

INTERIM DIVIDEND PAYMENT DATE

Ideagen

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Producer Price Index (GER) (07:00)

FINALS

888 Holdings, Caledonia Mining Corporation (DI), Charter Court Financial Services Group , Cloudcall Group, DP Eurasia N.V. (DI) , EnQuest, Faroe Petroleum, Frutarom Industries Ltd GDR (Reg S), Getbusy, Hansteen Holdings, IQE, Judges Scientific, Mears Group, Mortgage Advice Bureau (Holdings) , NAHL Group, Polypipe Group , The Gym Group, TI Fluid Systems, Wood Group (John)

ANNUAL REPORT

International Personal Finance

AGMS

Blue Prism Group, Chemring Group, Electronic Data Processing, Wynnstay Group

TRADING ANNOUNCEMENTS

Ocado Group

UK ECONOMIC ANNOUNCEMENTS

Consumer Price Index (09:30)

Producer Price Index (09:30)

Retail Price Index (09:30)

Wednesday March 21

INTERIMS

SCS Group , Softcat

QUARTERLY PAYMENT DATE

Unilever

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (14:30)

Current Account (US) (12:30)

Existing Home Sales (US) (14:00)

MBA Mortgage Applications (US) (11:00)

FINALS

Accesso Technology Group, Alpha Fx Group , Brave Bison Group, Brave Bison Group, Cambian Group, Centaur Media, Ebiquity, Empiric Student Property , Ferrexpo, IFG Group, IGas Energy, International Public Partnerships Ltd., Kingfisher, Medaphor Group, Personal Group Holdings, Premier Technical Services Group , Science In Sport, Ten Entertainment Group , Vectura Group, Xaar

ANNUAL REPORT

Cobham, Laird

AGMS

Athelney Trust, RM, Safestore Holdings, SK Telecom Co Ltd. ADS

UK ECONOMIC ANNOUNCEMENTS

CBI Industrial Trends Surveys (11:00)

Public Sector Net Borrowing (09:30)

Unemployment Rate (09:30)

FINAL DIVIDEND PAYMENT DATE

Lancashire Holdings Limited

Thursday March 22

INTERIMS

Produce Investments

INTERIM EX-DIVIDEND DATE

Brooks Macdonald Group, Clinigen Group, Close Brothers Group, Dunelm Group, ECO Animal Health Group, Kier Group, NWF Group, Revolution Bars Group, Sky, Thorpe (F.W.), Tristel

QUARTERLY EX-DIVIDEND DATE

Alpha Real Trust Ltd., BlackRock World Mining Trust, British American Tobacco, Funding Circle SME Income Fund

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Continuing Claims (US) (12:30)

Current Account (EU) (09:00)

IFO Business Climate (GER) (09:00)

IFO Current Assessment (GER) (09:00)

Initial Jobless Claims (US) (12:30)

PMI Manufacturing (US) (14:45)

GMS

Banco Santander S.A.

FINALS

Allied Minds , Cambridge Cognition Holdings, Cello Group, Franchise Brands, Gamma Communications, Genel Energy, India Capital Growth Fund Ltd., Inspired Energy, Lamprell, Quixant, Regional REIT Limited, Sabre Insurance Group, Safestyle UK , Sanne Group, Secure Trust Bank, Soco International, Sopheon , Ted Baker, Venture Life Group, Wentworth Resources Ltd (DI)

ANNUAL REPORT

Barclays, Metro Bank

EGMS

JKX Oil & Gas

AGMS

BB Healthcare Trust (Red), Beazley, Blackrock Throgmorton Trust, Brunner Inv Trust, Crest Nicholson Holdings, Independent Inv Trust, Independent Inv Trust

TRADING ANNOUNCEMENTS

Crest Nicholson Holdings, Halma

UK ECONOMIC ANNOUNCEMENTS

BoE Interest Rate Decision (12:00)

Retail Sales (09:30)

FINAL DIVIDEND PAYMENT DATE

Arden Partners, Treatt

FINAL EX-DIVIDEND DATE

AIB Group, Centamin (DI), Dairy Farm International Holdings Ltd. (Singapore), Fidelity European Values, GVC Holdings, Heavitree Brewery, Heavitree Brewery 'A' Shares, Hongkong Land Holding Ltd. (Sing.Reg), Jardine Matheson Holdings Ltd (Singapore Reg), Jardine Strategic Holdings Ltd. (Singapore), Kingspan Group, Low & Bonar, LSL Property Services, Mandarin Oriental International (Singapore), Meggitt, Nichols, OneSavings Bank, Randgold Resources Ltd., Schroders, Schroders (Non-Voting), SEGRO, XLMedia

Friday March 23

INTERIM DIVIDEND PAYMENT DATE

Heath (Samuel) & Sons, Murgitroyd Group

QUARTERLY PAYMENT DATE

Real Estate Credit Investments Ltd, RM Secured Direct Lending, SQN Secured Income Fund , Tetragon Financial Group Limited, UIL Limited (DI)

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Durable Goods Orders (US) (12:30)

GMS

Ladbrokes Group Finance 5.125% Stg Bds 16/09/2022

FINALS

Henry Boot, M Winkworth, Next, Robinson

AGMS

Milestone Group

UK ECONOMIC ANNOUNCEMENTS

New Homes Sales (US) (15:00)

FINAL DIVIDEND PAYMENT DATE

easyJet, Henderson Opportunities Trust