It's a quieter week on the monetary policy front after the Bank of Japan's first rate hike in 17 years, a surprise move by Taiwan's central bank to raise rates, the Swiss National Bank's rate cut, the first among industrialized economies during the current cycle, and no change by the US Federal Reserve, the Reserve Bank of Australia, the People's Bank of China and the Bank of England. Amid soaring stock markets and gradually easing inflation, market participants expect at least three rate cuts this year from the Fed and the Bank of Canada, starting in the middle of the year.

The focus for this week is on Friday's US data for February. Personal income and consumption seem to be solid while the core PCE inflation measure is forecast to post an elevated 2.8 percent increase on year, indicating inflation is still well above the Fed's 2.0 percent target. Japanese data is likely to show inflation is above 2 percent in three key measures in Tokyo in March and set to ease gradually, giving some time before the BoJ considers a further rate hike later this year.

For Monday, the annual inflation rate in Singapore is forecast at 3.0 percent for February, up slightly from January, when it eased sharply to 2.9 percent from December's 3.7 percent.

Taiwan's industrial production is expected to rise about 1.0 percent on the year in February after surging 15.98 percent in January, which was the first increase since May 2022.

The Chicago Fed national activity index is expected to fall more deeply to minus 0.50 in February from January's much deeper-than-expected 0.30 decline.

US new home sales in February are forecast at an annualized 675,000 units, up further from 661,000 in January, when lower mortgage rates helped lift sales from 651,000 in December.
The Dalas Fed manufacturing activity index is expected to extend its long contraction, at a consensus 10.5 minus in March versus minus 11.3 in February.

Among Fed officials, Atlanta Federal Reserve Bank President Raphael Bostic will participate in a moderated conversation on"Equitable Economic Development" before the University of Cincinnati Real Estate Center's March Roundtable at 8:25 a.m. EDT (1225 GMT).

Federal Reserve Board Governor Lisa Cook will give a lecture on"The Dual Mandate and the Balance of Risks" before the"Ec10b: Principles of Economics Lecture" event hosted by Harvard University at 10:30 a.m. EDT (1430 GMT).

Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.

Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.