1) Fed’s meeting on Tuesday
The highlight of this week will be the U.S. Federal Reserve’s two-day meeting, starting this Tuesday on policy rates and economic outlook. Investors will be looking for signals on assets tapering from the committee, seeing the paring back is a sign for upcoming rate hikes, even though Fed’s Chair, Jerome Powell, stated that the starting of assets tapering does not indicate an increase in policy rates.
2) Central bank’s meeting
Other central banks than the Fed are also scheduled to meet next to review its economic outlook. The Bank of Japan will also meet on Tuesday as the market expects the committee to keep the policy rate. Meanwhile, the Bank of England will also be unlikely to change its interest rate in the meeting on Thursday amid rising inflation.
3) Evergrande to repay investors with properties
As the market expects China Evergrande Group to default, the firm with over $300 billion in liabilities is starting the process of repaying more than 700,000 investors in its wealth management products with discounted properties.
4) China applies to join Trans-Pacific Partnership
China submitted an application to join Trans-Pacific Partnership (CPTPP), a free trade agreement signed with 11 countries including Australia, Canada, Japan, Malaysia, Mexico, New Zealand, Singapore, and Vietnam. The joining is expects to boost economic clout.