Key Economic Events and Corporate Reports for Thursday 11th December 2025: Central Bank Decisions, IEA and OPEC Reports, US Labour Market Data, and Global Company Earnings. A Comprehensive Overview for Investors.
On Thursday, attention on global markets will be focused on the decisions of two central banks and significant reports on commodity markets. In the morning, the Swiss National Bank will announce its interest rate, followed by a key decision from the Central Bank of Turkey in the afternoon – investors will assess the direction of monetary policy in these countries against the backdrop of changing inflation trends. Additionally, the monthly oil market reviews from the International Energy Agency (IEA) and OPEC will complement the picture, as expectations for the balance of demand and supply for energy resources depend on their assessments. Furthermore, several major companies from the S&P 500 index and other exchanges will release quarterly results – from the technology giant Broadcom to the retail behemoth Costco – allowing for an evaluation of sentiment in the corporate sector as the year ends.
Main Economic Events:
- 11:30 (Switzerland) – Swiss National Bank Interest Rate Decision: The Swiss regulator will set a new interest rate (currently around 0%), taking into account low inflation and the franc's exchange rate. It is expected that the Swiss National Bank will keep the rate unchanged following a series of cuts this year, reaffirming its commitment to price stability. Investors will be looking for signals from the regulator regarding future monetary policy; at 12:00 MSK, the SNB Chairman will hold a press conference to clarify the decision.
- 12:00 – IEA Monthly Oil Market Report: The International Energy Agency will publish its latest assessment of the balance of supply and demand in the oil market. The IEA report contains forecasts for global demand, production (especially from non-OPEC countries), and an evaluation of commercial stock levels. Participants in the oil market will examine the IEA's estimates for 2026 to understand whether the risk of supply shortages remains or if a surplus is expected – these conclusions could influence oil prices.
- 12:50 (United Kingdom) – Speech by the Governor of the Bank of England: Governor Andrew Bailey will deliver a speech in which he may provide insights into the state of the UK economy and comments on future monetary policy. The market will seek hints regarding the regulator's forthcoming actions, particularly in the context of addressing inflation and the state of the UK labour market.
- 14:00 (Turkey) – Central Bank of Turkey Interest Rate Decision: The Turkish regulator will announce its new key interest rate. After a period of extremely tight policy earlier in the year, the bank has shifted towards easing: inflation in the country has decreased to around 33% per annum, allowing for a cautious reduction in the rate (currently 39.5%). A cut of 100-150 bps is expected, although investors will closely watch the Central Bank's rhetoric regarding the sustainability of disinflation and future plans.
- 15:00 – OPEC Monthly Oil Market Report: OPEC will present its own analysis of the oil market situation over the past month, including production data from its member countries and demand forecasts. The OPEC report often sets the tone for expectations regarding oil balance: if it indicates a continuing supply deficit or high demand, prices could receive support, while indications of oversupply could increase downward pressure on prices. Comparing OPEC's estimates with those from the IEA will provide a more comprehensive picture of oil market prospects.
- 16:30 (United States) – Initial Jobless Claims: The US Department of Labor will publish weekly data on jobless claims. This figure is close to multi-year lows, reflecting a resilient labour market, although there has been a slight uptick in claims in recent weeks. Any sharp changes in this indicator could impact expectations regarding Federal Reserve policy: a rise in claims would weaken arguments for maintaining high rates for an extended period, while consistently low figures would confirm economic strength.
- 18:30 (United States) – EIA Natural Gas Inventory Report: The US Energy Information Administration will provide weekly statistics showing changes in natural gas stocks. This data is particularly important during the winter season: a reduction in stocks relative to average levels will support gas prices, signalling high demand, while exceeding normal stock levels may weaken prices. Energy traders will consider the EIA report when assessing the gas balance in the US market.
Corporate Earnings Reports:
- Before North American trading opens: Companies setting trends in their industries will report. Canadian fixed-price retailer Dollarama will present its Q3 results (fiscal year 2026) – reflecting consumer demand for everyday goods amidst inflation. Also before the session opens, US-based Ciena Corporation will release its Q4 report: the performance of this telecommunications equipment supplier will serve as a barometer for investment activity among telecom operators and 5G network development.
- Europe: Several major companies will publish their results, representing a snapshot of various sectors of the region's economy. Polish fashion house LPP will disclose its Q3 results, reflecting consumer demand trends in Eastern Europe and the effectiveness of brand expansion. German medical technology company Carl Zeiss Meditec will report for Q4; changes in its revenue and profit will show the state of demand for high-tech medical equipment globally. Additionally, airport operator Fraport will provide November passenger traffic data – this figure serves as an indicator of the recovery in international transport and tourism.
- After the US market closes: The focus will be on the technology and consumer sectors. Semiconductor giant Broadcom will publish its Q4 results and the full financial year for 2025: analysts will be interested in demand for chips for data centres and AI, which is crucial to the sentiment across the tech sector. Simultaneously, retail chain Costco Wholesale will report sales and profits for Q1 of the 2026 financial year – its figures will signal the strength of consumer spending in the US and the effectiveness of its subscription-based business model. The report from premium sportswear manufacturer Lululemon Athletica (Q3 2025) will also be released; the sales dynamics of this brand will show whether high demand for fitness and yoga products remains despite competition. Additionally, elite furniture company RH (Restoration Hardware) will present its quarterly results, serving as a marker for demand for high-end home goods.
- Russia: Airline Aeroflot will publish its operational results for November. Investors will evaluate passenger traffic trends and flight load factors for the flagship carrier: stable growth in the number of passengers transported confirms recovery in the aviation market, while weak statistics could heighten concerns regarding demand for air travel in winter.
Commentary:
Thursday promises to be a day that could significantly shift sentiments in financial markets. Decisions by the Swiss and Turkish central banks will set the tone on the currency market: unexpected actions or statements from the regulators will reflect on the franc and lira, as well as on yields of emerging market bonds. At the same time, participants in the commodity markets will scrutinise the IEA and OPEC reports: alignment of assessments from these organisations will bolster investor confidence, while discrepancies in viewpoints may increase oil price volatility. On the corporate front, key reports in the US (Broadcom, Costco, etc.) will serve as a test of sentiment in the technology and consumer sectors, potentially impacting Wall Street index dynamics. Investors should pay special attention to signals from the SNB press conference – they could influence the entire European financial landscape – as well as the tone of the monthly oil reviews, which determine expectations for commodity assets. The combination of statistics and corporate news on this day will help assess how confidently global markets are entering the year-end amid easing inflationary pressures and the initial steps of central banks towards policy easing.
