The FT's Katie Martin highlights what to watch in markets on Wednesday, as European stocks move higher ahead of Fed announcement on US interest rates, the US dollar a bit softer and bond yields still holding near their recent highs.
Filmed by Rod Fitzgerald. Produced by Filip Fortuna.
From the "FT" in London, here's the latest on markets. The day is finally here. This evening, UK time, the Fed will make fresh pronouncement on US interest rates. It's almost unanimously expected to raise rates by a quarter of a percentage point, an outcome that's so widely predicted that, unusually, markets are unruffled by the possibility. Indeed, only a decision not to raise rates could really upset investors at this point.
What really counts is what Fed Chair Janet Yellen and her fellow rate setters indicate will happen next. Two or three further rate rises this year is certainly seen as possible, and we can't rule out even more. In the run up, the dollar is a little softer, but bond yields are holding near their recent highs.
Get set for a flurry of further central bank decisions tomorrow. One of those will be from the Bank of England. And once again, sterling seems to be caught in the political crosshairs. It picked up early this morning, possibly on signs that the Scottish voters might reject independence from the UK and a new vote. But it's since fallen back at around the same time as Brexit Secretary David Davis told Parliament that the government had not carried out a risk assessment around the impact of leaving the EU without a deal.