Next Week’s News Today: When Will The Fed Hike Rates?

The earnings season is almost over, with the Straits Times Index (SGX: ^STI) constituents packing up their briefcases for another quarter. Attention now switches to economic data from around the globe.

Japan is set to report economic growth figures for the second quarter. In the first three months of 2015, Japan’s economy grew at an annualised rate of 3.9%. However, recent numbers that pointed to a drop in machinery orders has cast doubts as to whether growth in the second three months of 2015 would nearly be as spritely.

Staying in the Land of the Rising Sun, the Cabinet Office will reveal the state of consumer spending in Japan. It would appear that consumers have grown increasingly more confident over the last four quarters. It is important for Japan that they do, given that a significant proportion of the country’s economy is driven by private consumption.

There could be more clues on the timing of a interest rate hike in the US when the Federal Reserve publishes the minutes of its rate-setting committee. The minutes relate to last month’s meeting, which was before China decided to devalue its currency.

Sticking with America, the US Bureau of Labor Statistics will report the latest inflation numbers on Wednesday. The headline inflation rate in June was an imperceptibly small 0.1%. However, the core inflation rate, which excludes some volatile-price items increased to 1.8%. That is still below the long-term average of 3.7%.

And finally, Singapore Statistics will report Domestic Exports of Non-Oils on Monday. In July, exports rose 4.7%, reversing a 0.3% decline in the previous month.

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