Bernanke Report, Beige Book, DOE Inventories

WHAT TO WATCH: Federal Reserve Chairman Ben S. Bernanke will appear before the House today and the Senate tomorrow to present a semi-annual monetary policy report, with a statement due at 8:30 a.m. Housing starts in the U.S. may have climbed in June to an annualized 960,000 rate, 8:30 a.m. The Bank of England voted 9-0 to keep the target of its bond-purchase program at 375 billion pounds ($566 billion) in Mark Carney’s first meeting as governor, minutes showed. Finance Minister Lou Jiwei said China won’t use “large-scale fiscal stimulus” measures this year. U.K. jobless claims fell the most in three years.

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