Central banks take center stage during week ahead
WEEKLY MARKET COMMENTARY |
An unusually large number of top-tier monetary policy decisions are on tap for this week. First, the Eurogroup will meet with Greece in an attempt to paper over differences on repayments to the International Monetary Fund and European Central Bank (ECB). ECB President Mario Draghi is also scheduled to deliver comments on the economy. The Federal Reserve Open Market Committee will meet to determine the central bank's June rate decision and update their central tendency forecast followed by Fed Chair Janet Yellen's quarterly press conference. Meanwhile, Bank of Japan Governor Haruhiko Kuroda will address the public on the pace and scope of their quantitative easing program. Central bank meetings aside, in the U.S. the focus will be on housing, regional manufacturing, inflation and the pace of initial jobless claims.