Investing.com - In the week ahead, investors will be focusing on Wednesday’s monetary policy announcement by the Federal Reserve for fresh indications on the timing of an initial rate hike.
Friday’s monetary policy announcement by the Bank of Japan will also be closely watched.
Market participants will also be awaiting preliminary estimates of third quarter growth from both the U.S. and the U.K.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
1. FOMC rate decision
The Federal Reserve is to announce its latest monetary policy decision at the conclusion of its two day meeting at 2:00PM Eastern Time on Wednesday, as investors look for any clear signal about a possible timeline for hiking interest rates.
Investors have been trying to gauge when the Fed will raise interest rates for the first time in nearly a decade after recent economic reports offered a mixed picture of the U.S. economy.
The timing of a Fed rate hike has been a constant source of debate in the markets in recent months.
2. BoJ policy announcement
The Bank of Japan's latest monetary policy announcement is due during Asian morning hours on Friday. The BoJ is widely expected to keep policy steady despite recent chatter that it could expand the size of its monthly bond-buying program.
However, policymakers are likely cut their growth and inflation outlook for this fiscal year due to weak exports and falling oil prices.
3. U.S. third quarter growth data
The U.S. is to release figures on third quarter economic growth at 8:30AM Thursday. The data is expected to show that the economy expanded 1.6% in the three months ended September 30, slowing from growth of 3.9% in the second quarter, as a weaker global economy took its toll.
4. U.K. Q3 GDP
The Office for National Statistics is to produce data on U.K. economic growth for the third quarter at 9:30AM London Time on Tuesday, or 5:30AM ET. The report is forecast to reveal the economy grew 0.6% in the third quarter, after expanding 0.7% in the preceding quarter.
5. German IFO business sentiment data
The Ifo German research institute is to report on German business sentiment on Monday, with market players expecting the index to fall slightly to 107.8 this month from 108.5 in September, as the ongoing Volkswagen (DE:VOWG) scandal was likely to weigh.
The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.