Interest and exchange rate forecast - December 2012

Interest and exchange rate forecast - December 2012

No early Christmas surprises:

Economic Analysis

07 December 2012

It maybe the month of Christmas cheer, but there were no early presents on offer from either the Bank of England or the European Central Bank at their December meetings.  Both left monetary policy unchanged.

With attention focused on the US fiscal cliff negotiations, we expect the same outcome from the Federal Reserve's final meeting of 2012 next week.

Having had a quiet month, foreign exchange markets could see a late flurry of activity based on the outcome of these negotiations. While we expect much of the fiscal cliff to be avoided, we'll know if our faith in US policy makers is justified by the time of our IER in January.

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