The Week Ahead - Watch the central banks

With markets recovering from Friday’s false reports of a Ukrainian strike on a Russian convoy, the Bank of England and US Federal Reserve will be the focus of attention this week.  The B of E minutes will show any split in the vote whether to maintain or raise interest rates. The Fed minutes will probably confirm that the tapering schedule is still on but of greater interest will be Thursday’s summit of central bankers at Jackson Hole in the USA where Fed Chair Janet Yellen’s speech on labour market utilisation will be closely scrutinised for clues that she continues to believe that the poor quality of recovery in employment data justifies keeping rates lower for longer.