Major economic headlines last week

The key headline last week was the US Fed’s decision to scale back economic stimulus and hike interest rates.

On Wednesday, the US central bank announced that it would speed up its tapering program and hike rates in 2022.

US Fed Reserve governor Jerome Powell said the bank will will reduce its monthly bond purchases at twice the pace it previously announced, with the possibility of ending them altogether by March 2022.

On the rates front, the dot plot suggests the bank would raise the US Fed fund rate three times in 2022, each time by 0.25%.

All this seems to have been priced in by the market, with all major US stock market benchmarks rising on the day.

In Australia, RBA governor Phil Lowe said on Thursday the fate of the central bank’s bond buying program will be decided in its next meeting in February, but hinted the program may end by May 2022.

Dr Lowe however reiterated the bank’s stance that the condition for a rate hike will still not be met next year.

Economic calendar for this week


RBA meeting minutes released.

Private sector credit for November.

International calendar

US (US time)

US GDP growth. According to Commsec, a 2.3% lift is expected.
US exisiting home sales.

US personal income and spending.

Europe (European time)

EU current account.

EU consumer confidence.


ASX IPO calendar for this week


BirdDog Technology (ASX:BDT). This is a developer and manufacturer of audio-visual and video technology, which enhances the quality, speed and flexibility of video through a range of solutions. The company raised $33m at 65c.

ChemX Materials (ASX:CMX). The company’s main business is the development of materials in the high demand sectors of renewable energy and technology markets. It raised $8m at 20c.


Haranga Resources (ASX:HAR), mineral explorer that raised $6.5m at 20c.
Rubix Resources (ASX:RB6), a mineral explorer that raised $4.5m at 20c.
Vertex Minerals (VTX), a mineral explorer that raised $5.5m at 20c.


Atturra (ASX:ATA), a technology services company that raised $24.8m at 50c.

DMC Mining (ASX:DMM). This is a nickel, copper, gold and other base metal explorer in Western Australia. It raised 45m at 20c.

Greentech Metals (ASX:GRE), a mineral explorer that raised $5m at 20c.

Infinity Mining (ASX:IMI), a mineral explorer that raised $10m at 20c.

Falcon Metals (ASX:FAL), a mineral explorer that raised $30m at 50c.

Solis Minerals (ASX:SLM), a mineral explorer that raised $6m at 20c