Week InAdvance: June 13, 2022
Mon Jun 13 WTO ministerial meeting. US Supreme Court releases an order list. | Tue Jun 14 US primaries. | Wed Jun 15 FOMC rate decision. | Thu Jun 16 Bank of England rate decision. | Fri Jun 17 Basel Commitee meets. Bank of Japan rate decision.
Federal Reserve policy makers set interest rates Wednesday, and a half-point rate increase is all but certain. The Fed's economic projections and dot plot, along with Chair Jerome Powell's post-meeting news conference, will provide clues on how much further the central bank intends to keep tightening.
At the Bank of England, a 25 basis-point hike is expected Thursday, but longer-term bets on how high rates will go are being trimmed amid a grim economic outlook. In Japan, the central bank's dovish policy is under scrutiny as the yen tumbles to historic lows against the dollar. The Bank of Japan decides on Friday.
Officials gather in Geneva for the first meeting of the World Trade Organization's highest decision-making body in nearly five years amid the simultaneous crises of surging inflation, war, disease and potential famine. The goal of the WTO's 12th ministerial conference is to conclude small but symbolically important deals to show that the organization is still capable of rallying countries to act together to solve problems.
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