Japan Rate Decision On Tap For Thursday

The Bank of Japan will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity.

The central bank is widely expected to keep its benchmark lending rate unchanged at -0.1 percent.

Japan also will see July results for its all industry activity index, with forecast suggesting a decline of 0.1 percent on month following the 0.4 percent gain in June.

New Zealand will release Q2 figures for gross domestic product, with expectations calling for a gain of 0.8 percent on quarter and 2.5 percent on year. That follows the 0.5 percent quarterly gain and the 2.5 percent yearly increase in the three months prior.

New Zealand also will see August numbers for credit card spending; in July, spending was up 0.9 percent on month and 7.2 percent on year.

Hong Kong will provide Q2 data for current account and August figures for consumer prices. In the first quarter, the current account surplus was HKD16.67 billion. Inflation in July was up 2.0 percent on year.

The central bank in the Philippines will conclude its monetary policy meeting and then announce its decision on interest rates. The central bank is widely expected to keep its benchmark lending rate unchanged at 3.00 percent.

Finally, the markets in Malaysia and Indonesia are closed on Thursday for the Islamic New Year, and will re-open on Friday.

The material has been provided by InstaForex Company – www.instaforex.com

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