The Business News Week Ahead

Monetary policy fills a busy week beginning with the Bank of Japan and the Federal Reserve on Wednesday followed on Thursday by the Bank of England. Though no policy changes are expected at any of these meetings, the Fed is expected to set expectations for a near-term rate cut perhaps as early as their next meeting in late July. The slowing rate of inflation is a global concern for policy makers with consumer price reports to be posted in the UK, Canada and Japan. PMI flashes for June will take Friday's focus especially the manufacturing index out of Germany which has been in sharp contraction. US housing, which has been turning higher this year, will also be in focus with housing starts and permits out on Tuesday and existing home sales on Friday.