This week is the last "super central bank week" of the year for the US and Europe, as several central banks including the Federal Reserve, Japan, the UK, and Sweden will hold their meetings in the same week. The Bank of Japan may pause interest rate hikes, the Bank of England may pause interest rate cuts, and the probability of a 25 basis point cut by the Federal Reserve in December is 96%.
Market focus has shifted to the content of Federal Reserve Chairman Powell's speech and the latest economic projections, which will provide guidance on the direction of the Federal Reserve's monetary policy in 2025.