I have an S3 bucket which accumulates objects quite rapidly and I'd like to automatically move objects older than a week to another bucket. Is it possible to do this with a policy and if so what would the policy look like.
If there can't be move to another S3 bucket is them some other automatic mechanism for archiving them potentially to glacier?
Yes you can archive automatically from S3 to Glacier.
You can establish it by creating a Lifecycle Rule in the Amazon Console.