Ahmet Feridun: Monday markets - the week ahead on 20 January

• Shares continued to gain last week, driven predominantly by the signing of a phase one trade agreement between the US and China.
• Bond markets were relatively flat and gold pared some of its recent gains.

Interest rates under the spotlight

• This week is expected to see renewed focus on central banks.
• The ECB is set to launch its policy review, against a background of stabilising confidence. The Bank of Japan's outlook report will also be a focus of attention.
• The Bank of China is expected to lower its benchmark lending rate in line with recent actions to ease monetary conditions in the wake of the newly agreed trade deal with the US.
• In the UK, Friday’s PMI releases will be crucial in determining whether a rate cut will be announced next week.

Davos - sustainability to the fore

World leaders, chief executives, thinkers and celebrities are gathering in Davos for the World Economic Forum’s annual meeting, where they will also mark the Forum’s 50^th anniversary.

• Discussions will cover trade, global growth and the regulation of technology giants.
• Sustainability will also be a key theme, with stakeholder governance and how companies report their contributions to the UN’s sustainable development goals taking centre stage.
• The Forum has itself taken steps to offset its carbon footprint, encouraging delegates to use trains to get to the event, and offering shoe grips to walk between meetings – rather than taking cars.