Fed's economic projections to steal the show

CENTRAL banks will take centre stage again this week, with both the United States Federal Reserve and the Bank of England expected to make monetary policy announcements in the later half, after the European Central Bank decided to extend quantitative easing in the eurozone, albeit at a slower pace, last week.

There has been an unexpectedly early Santa rally in stock markets over the past month or so and if no surprise squalls show up to dampen the party, the local benchmark index might stand some chance of hanging on above the 2,900-point threshold through to the year-end.

The Fed, which will meet for its final monetary policy meeting of 2016, will put out the meeting minutes in the wee hours of Thursday morning, Singapore time.