STORY: From the key inflation gauge in the U.S., to eyes on the Bank of Japan, these are the stories to watch in business and finance in the coming week.

:: Look Ahead

:: Key inflation gauge in the U.S.

In the U.S., Friday's personal consumption expenditures price index - or PCE - should show whether inflation is still easing.

But recent PCE readings have not always aligned with expectations.

Another surprise could undercut the case for those who believe rate cuts are coming soon.

:: Bank of Japan

The Bank of Japan has kept the door open to a July rate hike, although markets are not convinced.

Retail sales data due on Thursday and Tokyo's CPI index a day later could provide insight.

:: Waiting for the Fed

A push in emerging markets to lead an easing cycle is losing steam with the prospect of near-term Fed rate cuts fading.

On Thursday, Mexico's central bank is expected to keep rates on hold.

Policymakers in the Philippines are set to leave them at 17-year highs.

And Turkey is expected to stick with its benchmark rate at 50%.