15th September 2014
Busy week ahead for UK, US and Europe
The UK will be transfixed by the Scottish referendum this week which, over the weekend, tilted back in favour of the “no” vote, where the bookies have remained throughout. But there are noteworthy events elsewhere. In the US, the Federal Open Market Committee (FOMC), who make the key decisions on interest rates and monetary stimulus, will meet Wednesday. There appears to be a strengthening of opinion within the committee in favour of raising rates sooner to avoid higher rates in the future. The resulting speech by Federal Chair, Yellen, will be carefully scrutinsed by markets, particularly Sterling traders. We will also see detail of the European Central Bank’s ambitious loan buying program.