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The Federal Open Market Committee $(FOMC)$ is scheduled to conclude its two-day policy meet on interest rates, followed by the release of a closely watched statement. The U.S. central bank is widely expected to leave rates unchanged at 3.5% to 3.75%, while the U.S. Federal Reserve chair will hold a news conference following the decision.Meanwhile, the Bureau of Labor Statistics is due to release producer price index $(PPI)$ data. Producer prices for February likely rose 0.3% after 0.5% increase in January. On an annual basis, PPI is expected to remain unchanged at 2.9%. Excluding food and energy, PPI is expected to rise 0.3% month-on-month and 3.7% from the previous year. Separately, the U.S. Census Bureau is expected to report that factory orders for January likely rose 0.1%, following a 0.7% decline in the previous month.General Mills is scheduled to report its third-quarter revenue, likely hit by softer demand for its snacks and cereals amid economic uncertainty. Investors will focus on commentary on consumer spending, pricing strategies, and annual guidance.Macy's is expected to post its fourth-quarter sales as it struggles with weak demand from cost-conscious consumers. Investors will watch for commentary on demand and consumer spending, as well as annual forecasts.Jabil will to report its second-quarter results and analysts will be on the lookout for guidance on demand for liquid cooling products used at data centers. Elsewhere, the Bank of Canada is expected to announce its key policy interest rate, followed by a press conference by Governor Tiff Macklem. The central bank is expected to keep rates unchanged at 2.25%.Micron is expected to post its second-quarter revenue with investors watching out for commentary on chip shortage and pricing.General Motors Executive VP and CFO Paul Jacobson is set to participate in Bank of America's 2026 Global Automotive Summit. Union Pacific CEO Jim Vena and CFO Jennifer Hamann will address the J.P. Morgan 2026 Industrials Conference.The U.S. International Trade Commission is expected to issue an initial determination on whether Apple's redesigned Apple Watches infringe blood-oxygen monitoring patents owned by medical technology company Masimo.In Latin America, Brazil's central bank is expected to cut its interest rate for the first time since May 2024, with policymakers seen lowering the rate by 50 basis points to 14.50%. Data on Brazil's foreign exchange flows for the week ended March 13 are also due. Meanwhile, Chile's economy is expected to have grown 0.3% in the fourth quarter, after contracting 0.1% in the previous period. On an annual basis, gross domestic product is estimated to have risen 1.7% in the same period. Argentina is also expected to release unemployment data for the fourth quarter.
(Compiled by Rahul Raj in Bengaluru; Edited by Diti Pujara)