Market Commentary: Week of March 14, 2016

Last week was relatively quiet in terms of global economic data, with investors watching actions by central banks. The European Central Bank announced additional monthly asset purchases and cuts to interest rates, which President Mario Draghi believes will be sufficient to support economic activity. This week, meetings are scheduled for the Bank of Japan (BOJ) and Federal Reserve. The Fed is unlikely to change policy this month, but will likely see sufficiently positive economic data to raise rates in June. The BOJ is likely to require additional expansion of monetary policy to reach its inflation target of 2 percent. Data releases this week include U.S. inflation measures, which are a key target for the Fed.