Economic Calendar This Week: Week beginning 14 June 2021
Updated: 2021-06-14 09:55:16 KST
In the U.S., the Federal Open Market Committee will meet from Tuesday to Wednesday.
Investors are keeping their eyes on whether the meeting will discuss the scaling back of asset purchases, so-called tapering, in order to ease inflation.
Since March last year, the central bank has been purchasing 120 billion U.S. dollars of assets a month, providing liquidity into the market.
CNBC reported last week that the Fed is likely to begin reducing asset purchases later this year or early next year, citing comments from Fed officials.
On the same subject, Fed chairman Jerome Powell said in March that it was not time to start talking about tapering yet.
He said the central bank will wait until the labor market and inflation have made substantial progress toward maximum employment and its two percent goal, respectively.
And…the chairman added that when the Fed sees signs of the progress, it plans to provide as much advance notice of any potential tapering as possible.
Market watchers largely expect there to be no immediate decision made in next week's meeting.
Instead, they see it more likely that the Fed will announce its stance on tapering in August when the Federal Reserve Bank of Kansas City's annual monetary policy symposium takes place.
Since 1981, central bankers, finance ministers and leading financial market players around the world have been participating in the annual event, mainly discussing current economic policy matters.
On Wednesday, the Bank of Korea will release analysis on contributing factors to the rise in exports as well as export projections.
The latest figure shows that South Korea's exports in the first ten days of this month jumped more than 40 percent from a year ago.
According to preliminary data from the Korea Customs Service, strong demand for cars, semiconductors, and petroleum products have largely contributed to the growth.
Since recent export figures indicate a recovery in the global economy from the pandemic-led recession, Korea's central bank is likely to release rosy expectations on exports.
Seo Eunkyung, Arirang News.