Economy Week Ahead: US interest rates and housing market in focus

Wednesday

The Federal Reserve announces its latest interest rate decision after a two-day meeting. The central bank faces turbulence in the banking industry and still high inflation. Fed officials will also release updated forecasts on interest rates, inflation, unemployment and economic output, and Chairman Jerome Powell will hold a news conference.

The UK Office for National Statistics releases February inflation figures. Consumer prices rose 10.1% yoy in January, a slower inflation rate than the previous month’s 10.5% rise.

Thursday

The Bank of England announces its latest monetary policy decision. The central bank has signaled it may pause rate hikes soon, but further hikes are possible if inflation threatens to stay high longer than expected.

The Department of Labor reports the number of workers’ claims for unemployment benefits for the week ended March 18. Initial jobless claims fell last week, showing the US jobs market remains strong.

The Commerce Department reports the number of new homes sold in February, accounting for about 10% of the housing market.

Japan’s statistics agency publishes inflation figures for February. Core consumer prices rose 4.2% yoy in January, the fastest pace since September 1981. Japan defines core prices as all prices excluding fresh food.

Friday

S&P Global releases business activity surveys of purchasing managers from around the world in March. February surveys showed improved activity in China, the US and the euro zone.

The Department of Commerce releases February Durable Goods Demand figures. New orders for durable goods dropped sharply in January MoM, after a monthly increase in December reflecting volatility in the aircraft sector.

Write to Bryan Mena at bryan.mena@wsj.com