It will be a big week in monetary policy as two of the world’s biggest central banks, in Tokyo and Washington, announce their latest monetary moves. The Federal Reserve is likely to keep interest rates unchanged, but the Bank of Japan may take steps to ease its policy. Meanwhile, Brazil’s central bank unveils the minutes from its first policy decision made under its new governor.
MONDAY: Buffeted by a stronger currency and slowing global growth, Japan will release preliminary import and export figures for June. The nation’s exports fell 11.3% in May from a year earlier, the eighth consecutive decline. Another decline is expected for June.
TUESDAY: Days before the Summer Olympics begin in Brazil, the country’s central bank will release June’s current-account figures. Brazil has a shrinking deficit, and the data could reflect potential damage from a recent strengthening of the real.
WEDNESDAY: The Federal Reserve releases its policy statement after a two-day meeting. The central bank is highly unlikely to raise its benchmark interest rate this time around, but its statement could shed light on officials’ thinking for September and beyond. Fed officials have shown growing confidence in the economy in recent weeks as reports suggest a steady labor market, stronger wage growth and stabilizing financial markets after Brexit.
THURSDAY: Brazil’s central bank releases the minutes from its July 20 meeting, when it held its benchmark Selic rate at 14.25% in the first monetary decision under Gov. Ilan Goldfajn. The minutes could offer hints on how Mr. Goldfajn’s team is reading the economic tea leaves, before an easing cycle likely to begin later this year.