A week of Monetary Policies: Fed, BOJ and RBA

This week is likely to witness a slew of central bank policy meets with the likes of Federal Reserve, Bank of Japan and Reserve Bank of Australia, which are slated to come out with their Monetary Policy statements and outlook.

The US Federal Reserve is expected to keep interest rates unchanged when it comes out with its monetary policy on Wednesday, November 2. However, Fed is likely to signal its intent to increase rates come December as the central bank would have a clearer picture of the economic policies of the new administration post US Presidential election.
 
The Bank of Japan (BOJ) in its policy meet maintained status quo at the same time revising down its inflation forecast owing to poor economic data coming out from the world’s third largest economy.
 
Reserve Bank of Australia (RBA) left interest rates unchanged at 1.5 per cent; citing ‘brisk’ home price growth. Last rate cut was in the month of August when the central bank had cut its rate by 25 basis points from 1.75 to 1.50 per cent which was a record low.
 
Global markets are likely to take future cues from central bank decisions of major global economies.