Japan Rate Decision On Tap For Friday
(RTTNews) - The Bank of Japan will wrap up its monetary policy meeting on Friday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The BoJ is expected to raise its benchmark lending rate by 25 basis points, to 0.50 percent from 0.25 percent.
Japan also will see December data for consumer prices; in November, overall inflation was up 0.6 percent on month and 2.9 percent on year, while core CPI rose an annual 2.7 percent. Japan also will see January results for the services and manufacturing PMIs from Jibun Bank; in December, their scores were 50.9 and 49.6, respectively.
Australia will see January results for the manufacturing and services PMIs from Judo Bank; in December, their scores were 47.8 and 50.8, respectively.
New Zealand will provide December data for credit card spending; in November, spending was down 3.2 percent on year.
Singapore will release December numbers for industrial production; in November, production was down 0.4 percent on month and up 8.5 percent on year.
Taiwan will see preliminary Q4 data for gross domestic product; in the previous three months, GDP was up 4.17 percent on year.
Finally, the markets in Taiwan remain closed for the long Lunar New Year break; they return to trade on Feb. 3.
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