Bank of Japan street signboard in Tokyo.

The US House of Representatives is set to vote whether to impeach President Donald Trump on the two Judiciary Committee-approved articles of abusing presidential power and obstruction of Congress.

Impeachment

Trump stands accused of attempting to solicit foreign help against one of his rivals, the Democratic frontrunner Joe Bide in the upcoming 2020 elections by trying to force Ukraine into investigating him.

The Dem-controlled House is almost certainly going to impeach Trump whereas his removal from the White House by the Republican-dominated Senate is less likely.

Trade Talks

Stock markets around the world are ready to continue their rally over the Friday announcements by the commercially warring China and the US that they reached a Phase-1 deal. Although many aspects and content of the claimed deal remain murky, markets seem to just go along with the official rhetoric sans an actual, comprehensive deal.

BoJ Meeting

The Bank of Japan is holding on Thursday its last monetary policy meeting of the year.

Thanks to the ever-ambitious prime minister Shinzo Abe’s announcement of a large-scale fiscal stimulus package to be launched next year; the BoJ, having landed on the ground large enough for less unconventional maneuvers, is not expected to make any substantial changes to the monetary policy.

BoE Rate

Also on Thursday, the Monetary Policy Committee of the Bank of England (BoE) will be meeting.

With the parliamentary deadlocks and Brexit uncertainties appearing to be gone as a result of Prime Minister Boris Johnson’s astounding election victory last week, the BoE is widely anticipated to leave its key interest rates and policy unchanged as the pound and British assets find breathing room.

Others

Sweden’s Riksbank, Norway’s Norges Bank, and Banco de México are among the central banks holding their last policy meeting of the year this week.

Economic Calendar

Monday: China Industrial Production, Germany Manufacturing PMI, UK Composite PMI, Manufacturing PMI, Services PMI

Tuesday: Australia RBA Meeting Minutes, US Building Permits, US JOLTs Job Openings

Wednesday: Germany Ifo Business Climate Index, UK CPI, Eurozone CPI, Canada Core CPI, US Crude Oil Inventories, New Zealand GDP

Thursday: Australia Employment Change Japan BoJ Press Conference, UK Retail Sales, BoE Interest Rate Decision, BoE MPC Meeting Minutes, US Philadelphia Fed Manufacturing Index, US Existing Home Sales

Friday: China PBoC Loan Prime Rate, UK GDP, US GDP, Canada Core Retail Sales

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