Japan Interest 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 widely expected to keep its benchmark lending rate unchanged at -0.1 percent. although it will reportedly unveil a $170 billion stimulus action.
Japan also will see September figures for unemployment and October data for Tokyo consumer prices. The jobless rate is expected to hold steady at 2.5 percent, , while the jobs-to-applicant ratio is expected to tick up to 1.33 from 1.32 in August. Both overall and core inflation were up 2.8 percent on year in September.
Australia will provide Q3 numbers for producer prices; in the previous three months, producer prices were up 1.4 percent on quarter and 5.6 percent on year.
Singapore will release September data for import, exports and producer prices, as well as unemployment data for the third quarter of 2022. In August, import prices were up 12.8 percent on year, export prices jumped an annual 14.1 percent and producer prices surged 17.3 percent on year. The jobless rate was 2.1 percent in Q2.
Taiwan will provide an advance estimate for Q3 gross domestic product; in the second quarter, GDP expanded 3.05 percent on year.
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