US Fed's policy meet to be in focus this week: S&P Global Market Intelligence

New Delhi [India], July 25 (ANI): The US Fed's upcoming monetary policy meeting is set to dominate headlines this week with a 75-100-basis points interest rate hike likely. Inflation approaching double-digits has prompted the US central bank to take a tougher stance.
The monetary policy meeting outcome to be released later this week would be widely tracked by investors across the globe as it will give fresh cues for investments.
The US Fed in its June meeting raised the interest rate by 75 basis points, which was the steepest hike since 1994.
A plethora of US economic data will also be released including second-quarter GDP, which could show the US to be in recession, it said
"However, the US could already be in a technical recession. Q2 GDP data, released Thursday, are expected to show a modest gain but our nowcast model points to a 1.8% contraction, on the back of a 1.6% decline in Q1," said global financial information provider S&P Global Market Intelligence.
"The Fed meeting also comes hard on the heels of flash PMIs, which pointed to heightened downturn risks for the US and Europe, with economic activity contracting in the US and eurozone in July," it said.
Meanwhile, the US housing market has entered uncertain waters, with mortgage rates surging amid rate hikes and increased uncertainty. The US House Price Index to be released Tuesday will be another marker for investors.
In the Asia Pacific region, meeting of Hong Kong central bank policy meeting and South Korean GDP are other notable events.
"Retail sales, unemployment, and consumer confidence data will reveal also how Japan has fared at the end of Q2," it added. (ANI)