This week, in addition to the Federal Open Market Committee meeting, policy decisions are scheduled from the Bank of Japan and the Bank of England. The FOMC meets on July 28 and 29, and is expected to hold interest rates steady, though short-term money markets are pricing in a slightly less than 40 percent chance of a rate hike, with the possibility of two hikes this year in focus. In the US, the PCE price index, a key inflation gauge for the Fed, and second-quarter GDP will be released, while Treasury auctions of two-year, five-year, and seven-year notes will also draw attention. The Bank of England is widely expected to keep rates unchanged at its Monetary Policy Committee meeting on the 30th, and the Bank of Japan is also anticipated to stand pat at its meeting on the 30th and 31st.