The forecast for the economic indicators scheduled to be announced from December 16 to 20 is as follows.

■Scheduled to be announced at 6:00 p.m. on 16th (Mon)

○ (Europe) December manufacturing PMI - forecast 45.6

The November results are 45.2 for reference. Although economic buoyancy is expected due to monetary easing, a rapid recovery in the Eurozone countries cannot be expected, so a drastic improvement in the index cannot be expected.

■Scheduled to be announced at 11:45 p.m., 16th (Mon)

○ (US) December Service Industry PMI - November Results 56.1

The November results are 56.1 as a reference. Business confidence in the service industry is reasonably good. However, since the November ISM non-manufacturing business climate index, which is a reference index, deteriorated drastically for December, there is a possibility that it will fall below the November results.

■18th (Wed) 19th 4:00 a.m. Results revealed

○ (US) Federal Open Market Committee (FOMC) Meeting - Expected an additional 0.25 pt interest rate cut

The additional interest rate cuts in December have been fully factored in. It is expected that the policy of not rushing to cut interest rates will be maintained for next year and beyond, and leaving policy interest rates unchanged for January is viewed as dominant.

■The scheduled end time of the 19th (Thursday) decision meeting is yet to be determined

○ (Japan) Bank of Japan Monetary Policy Meeting - Forecasts leave policy interest rates unchanged

A rapid decline in the inflation rate is not expected, but it is expected that policy interest rates will be decided at this meeting by comprehensively judging the fact that domestic demand is slightly sluggish and the impact of the slowdown in overseas economies.

○Other major economic indicators will be announced

・16th (Monday): (Europe) December Eurozone Service Industry PMI, (US) December Manufacturing PMI

・17th (Tue): (US) November Retail Sales

・18th (Wed): (US) Number of housing starts in November

・19th (Thursday): (English) Bank of England Policy Interest Rate Announcement

・Friday 20: (Sun) November National Consumer Price Core Index; (US) November Core PCE Price Index