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Key events in developed markets next week
US: No shift in policy stance expected until the jobs market improves. The first week of August sees the release of a couple of key data points that will help to determine whether the Federal Reserve will be pushed into an earlier tapering of its quantitative easing. The Fed persists with its transitory description of inflation pressures and has made it clear we won't see a shift in its policy stance until there is further significant improvement in the jobs market. With six million fewer Americans in work than before the pandemic started, a big rise in non-farm payrolls will go some way to raising expectations of ... (full story)