Daily Economic Outlook—Jan 27, 2016

Today's upcoming FOMC policy announcement is likely to see a vote for no change after raising rates in December. Focus will be on the statement after the meeting, for hints on the expected near-term path for rates given the surge in market volatility since the beginning of 2016 amidst increasing concerns regarding global growth.

Meanwhile, the RBNZ is likely to keep the policy rate unchanged after lowering the rate to 2.5% in December. However, the risks are skewed to the downside.

The February German consumer confidence data is due to be released today, apart from US new home sales data and the UK BBA mortgage approvals for December. The UK's BBA mortgage approvals might give an insight to whether the imminent rise in stamp duty on buy-to-let properties has stimulated activity.