Key Trading Events to Watch: December 18 - 21, 2025

The second half of the December 15-21 week also brings a wave of potentially high-impact economic releases that could impact financial markets. These key releases include the Bank of England Interest Rate Decision, US Customer Price Index, and Bank of Japan Interest Rate Decision, among others.  

Whether you're trading the US dollar, British Pound, Euro, or Japanese Yen, understanding these events and their potential market implications will be essential for navigating what promises to be a data-intensive week.   

Thursday, December 18th 2025 

BoE Interest Rate Decision 

Thu, Dec 18th, 2025 at 12:00 GMT 

Currency: GBP 

The Bank of England (BoE) announces its interest rate decision at the end of its eight scheduled meetings per year. If the BoE is hawkish about the inflationary outlook of the economy and raises interest rates it could be bullish for the Pound Sterling (GBP). Likewise, if the BoE adopts a dovish view on the UK economy and keeps interest rates unchanged, or cuts them, it could be seen as bearish for GBP. 

BoE Minutes 

Thu, Dec 18th, 2025 at 12:00 GMT 

Currency: GBP 

The minutes of the Bank of England (BoE) Monetary Policy Committee (MPC) meetings are published alongside the committee decision. The minutes give a full account of the policy discussion, including differences of view among members. They also record the votes of each member of the MPC. If the BoE is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that could be positive for the GBP. 

BoE Monetary Policy Summary 

Thu, Dec 18th, 2025 at 12:00 GMT 

Currency: GBP 

The Monetary Policy Report, released by Bank of England, contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes. 

BoE MPC Vote Rate Cut 

Thu, Dec 18th, 2025 at 12:00 GMT 

Currency: GBP 

Interest rates are set by the Bank of England’s (BoE) Monetary Policy Committee (MPC). The MPC sets an interest rate it judges will enable the BoE’s inflation target to be met. It is comprised of nine members – the Governor, the three Deputy Governors, the Bank's Chief Economist and four external members appointed directly by the Chancellor. Investors look at each member’s vote to seek cues over how unanimous was the decision on interest rates. 

BoE MPC Vote Rate Hike 

Thu, Dec 18th, 2025 at 12:00 GMT 

Currency: GBP 

Interest rates are set by the BoE Monetary Policy Committee (MPC). The MPC sets an interest rate it judges will enable the BoE’s inflation target to be met. It is comprised of nine members – the Governor, the three Deputy Governors, the Bank's Chief Economist and four external members appointed directly by the Chancellor. Investors look at each member’s vote to seek cues over how unanimous was the decision on interest rates. 

BoE MPC Vote Rate Unchanged 

Thu, Dec 18th, 2025 at 12:00 GMT 

Currency: GBP 

Interest rates are set by the Bank of England’s (BoE) Monetary Policy Committee (MPC). The MPC sets an interest rate it judges will enable the BoE’s inflation target to be met. It is comprised of nine members – the Governor, the three Deputy Governors, the Bank's Chief Economist and four external members appointed directly by the Chancellor. Investors look at each member’s vote to seek cues over how unanimous was the decision on interest rates. 

ECB Main Refinancing Operations Rate 

Thu, Dec 18th, 2025 at 13:15 GMT 

Currency: EUR 

One of the three key interest rates set by the European Central Bank (ECB), the main refinancing operations rate is the interest rate the ECB charges to banks for one-week long loans. It is announced by the European Central Bank at its eight scheduled annual meetings. If the ECB expects inflation to rise, it may increase its interest rates to bring it back down to its 2% target. This could tend to be bullish for the Euro (EUR), since it could attract more foreign capital inflows. Likewise, if the ECB sees inflation falling it may cut the main refinancing operations rate to encourage banks to borrow and lend more, in the hope of driving economic growth. This could tend to weaken the Euro as it could reduce its attractiveness as a place for investors to park capital. 

ECB Monetary Policy Statement 

Thu, Dec 18th, 2025 at 13:15 GMT 

Currency: EUR 

At each of the European Central Bank’s (ECB) eight governing council meetings, the ECB releases a short statement explaining its monetary policy decision, considering its goal of meeting its inflation target. The statement may influence the volatility of the Euro (EUR) and determine a short-term positive or negative trend. A hawkish view could be considered bullish for EUR, whereas a dovish view could be considered bearish. 

ECB Rate On Deposit Facility 

Thu, Dec 18th, 2025 at 13:15 GMT 

Currency: EUR 

One of the European Central Bank's three key interest rates, the rate on the deposit facility, is the rate at which banks earn interest when they deposit funds with the ECB. It is announced by the European Central Bank at each of its eight scheduled annual meetings. 

Consumer Price Index (YoY) (Nov) 

Thu, Dec 18th, 2025 at 13:30 GMT 

Currency: USD 

Inflationary or deflationary tendencies are measured by periodically summing the prices of a basket of representative goods and services and presenting the data as The Consumer Price Index (CPI). CPI data is monthly compiled and released by the US Department of Labor Statistics. The YoY reading compares the prices of goods in the reference month to the same month a year earlier. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading could be seen as bullish for the US Dollar (USD), while a low reading could be seen as bearish. 

Consumer Price Index ex Food & Energy (YoY) (Nov) 

Thu, Dec 18th, 2025 at 13:30 GMT 

Currency: USD 

Inflationary or deflationary tendencies are measured by periodically summing the prices of a basket of representative goods and services and presenting the data as the Consumer Price Index (CPI). CPI data is monthly compiled and released by the US Department of Labor Statistics. The YoY reading compares the prices of goods in the reference month to the same month a year earlier. The CPI Ex Food & Energy excludes the so-called more volatile food and energy components to give a more accurate measurement of price pressures. A high reading could be bullish for the US Dollar (USD), while a low reading could be seen as bearish. 

ECB Press Conference 

Thu, Dec 18th, 2025 at 13:45 GMT 

Currency: EUR 

Following the European Central Bank’s (ECB) economic policy decision, the ECB President gives a press conference regarding monetary policy. The president’s comments may influence the volatility of the Euro (EUR) and determine a short-term positive or negative trend. If the president adopts a hawkish tone, it could be considered bullish for the EUR, whereas if the tone is dovish the result could be bearish for the Euro. 

Friday, December 19th 2025 

BoJ Interest Rate Decision 

Fri, Dec 19th, 2025 

Currency: JPY 

The Bank of Japan (BoJ) announces its interest rate decision after each of the Bank’s eight scheduled annual meetings. If the BoJ is hawkish about the inflationary outlook of the economy and raises interest rates it could be bullish for the Japanese Yen (JPY). Likewise, if the BoJ has a dovish view on the Japanese economy and keeps interest rates unchanged, or cuts them, it could be seen as bearish for JPY. 

BoJ Monetary Policy Statement 

Fri, Dec 19th, 2025 

Currency: JPY 

At the end of each of its eight policy meetings, the Policy Board of the Bank of Japan (BoJ) releases an official monetary policy statement explaining its policy decision. By communicating the committee's decision as well as its view on the economic outlook and the fall of the committee’s votes regarding whether interest rates or other policy tools should be adjusted, the statement gives clues as to future changes in monetary policy. The statement may influence the volatility of the Japanese Yen (JPY) and determine a short-term positive or negative trend. A hawkish view could be considered bullish for JPY, whereas a dovish view could be considered bearish. 

BoJ Press Conference 

Fri, Dec 19th, 2025 at 06:30 GMT 

Currency: JPY 

The Bank of Japan (BoJ) holds a press conference at the end of each one of its eight scheduled policy meetings. At the press conference the Governor of the BoJ communicates with media representatives and investors regarding monetary policy. The Governor talks about the factors that affect the most recent interest rate decision, the overall economic outlook, inflation, and clues regarding future monetary policy. Hawkish comments may boost the Japanese Yen (JPY), while a dovish message may weaken it. 

Retail Sales (MoM) (Nov) 

Fri, Dec 19th, 2025 at 07:00 GMT 

Currency: GBP 

Released monthly by the Office for National Statistics, the Retail Sales data measures the volume of sales of goods by retailers in Great Britain directly to end customers. Changes in Retail Sales are widely followed as an indicator of consumer spending. Percent changes reflect the rate of changes in such sales, with the MoM reading comparing sales volumes in the reference month with the previous month. A high reading could be seen as bullish for the Pound Sterling (GBP), while a low reading could be seen as bearish. 

Staying on top of these key events and understanding their potential impact can help you anticipate market volatility and make more confident trading decisions.    
 
For a full list of what’s ahead, check out our market calendar and stay prepared for the week’s opportunities.  

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