Japan Interest Rate Decision Due On 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 keep its benchmark lending rate unchanged at -0.10 percent.

Japan also will release March numbers for unemployment, industrial production, retail sales, construction orders and housing starts, as well as April figures for Tokyo-area consumer prices.

The jobless rate is expected to ease to 2.5 percent from 2.6 percent in February, with the jobs-to-applicant ratio seen steady at 1.34. Industrial output is tipped to add 0.5 percent on month, slowing from 4.6 percent in February.

Retail sales are seen higher by an annual 5.8 percent, down from 7.3 percent in the previous month. Construction orders are expected to climb 10 percent on year, easing from 22.3 percent a month earlier.

Housing starts are expected to drop 4.3 percent on year after slipping 0.3 percent in February. Tokyo inflation is tipped to rise 3.1 percent on year, easing from 3.3 percent - while core CPI is seen unchanged at an annual 3.2 percent.

Australia will see March numbers for private sector credit and Q1 data for producer prices. Credit is seen unchanged, higher by 0.3 percent on month. Producer prices are expected to add 0.8 percent on quarter and 5.0 percent on year after rising 0.7 percent on quarter and 5.8 percent on year in the three months prior.

South Korea will provide March data for industrial production and retail sales. Production is tipped to fall 0.8 percent on month and 2.7 percent on year after shedding 3.2 percent on month and 8.1 percent on year in February. Sales are expected to add 0.6 percent on month, moderating from 5.3 percent in the previous month.

Singapore will see March figures for bank lending and unemployment. Lending is expected to be worth SGD800 billion, down from SGD803.8 billion in February. The jobless rate is expected to tick up to 2.2 percent from 2.0 percent a month earlier.

Taiwan will release Q1 data for gross domestic product, with forecasts suggesting a contraction of 1.25 percent following the 0.41 percent decline in the previous three months.

Thailand will provide March numbers for imports, exports, trade balance, current account and industrial production. In February, imports were up 1.8 percent on year and exports fell 4.1 percent for a trade surplus of $1.30 billion. The current account surplus also was $1.30 billion and industrial production fell an annual 2.71 percent.