Business Calendar: bank-fest

STORY: From one big rate hike, to yet another big rate hike – here are the business and finance stories to watch out for in the days ahead.

A key Federal Reserve meeting just got even more vital, after higher-than-expected inflation numbers this week raised bets on another sharp rate increase.

Markets are pricing in a three-quarter-point rise on Wednesday.

Next up is the Bank of Japan on Thursday.

It’s the dovish exception among central banks, and markets don’t expect any change of policy this time either.

That will see the gap between U.S. and Japanese rates yawn even wider.

The Bank of England is more in the mainstream.

It’s expected to lift rates by at least a half percentage point the same day.

A day later, new UK finance minister Kwasi Kwarteng is expected to set out tax plans that some think could fuel inflation.

The latest snapshot of global business activity comes on Friday, with closely watched PMI indexes from a host of countries.

The euro zone is already below the 50-point mark that divides contraction and expansion.

And markets will watch for Russia's response to setbacks in its war in Ukraine.

Europe is on edge over any new moves on energy, with soaring gas prices already threatening to spark a recession.