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New Zealand Rate Decision Due On Wednesday
(RTTNews) - The Reserve Bank of New Zealand will wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, highlighting a bust day for Asia-Pacific economic activity. The RBNZ is expected to trim its Official Cash Rate (OCR) by 50 basis points, from 4.25 percent to 3.75 percent.
New Zealand also will see producer prices data for the fourth quarter of 2024; in the previous three months, PPI inputs were up 1.9 percent on quarter and outputs rose 1.5 percent.
Japan will see January data for imports, exports and trade balance, as well as core machinery order figures for December. Machinery orders are tipped to add 0.3 percent on month and 6.9 percent on year, easing from 3.4 percent on month and 10.3 percent on year in November.
Imports are expected to climb 9.7 percent on year, up from 1.7 percent in December. Exports are called higher by an annual 7.9 percent, up from 2.8 percent in the previous month. The trade deficit is pegged at 2.104 trillion yen following the 132.5 billion yen surplus a month earlier.
Australia will provide Q4 data for its wage price index, with forecasts suggesting an increase of 0.8 percent on quarter and 3,2 percent on year. That follows the 0.8 percent quarterly increase and the 3.5 percent yearly gain in the three month prior.
The central bank in Indonesia will wrap up its monetary policy meeting and announce its decision on interest rates; the central bank is expected to keep its benchmark lending rate (5.75 percent), deposit facility rate (5.00 percent) and lending facility rate (6.50 percent) all unchanged.
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