Japan Interest Rate Decision On Tap On Tuesday
The Bank of Japan is scheduled to wrap up its monetary policy meeting Tuesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The central bank is expected to keep its benchmark lending rate unchanged at -0.1 percent.
Japan also will see June figures for industrial production, unemployment, construction orders and housing starts — plus July results for its consumer confidence index.
Industrial output is expected to fall 0.3 percent on month and rise 0.6 percent on year after easing 0.2 percent on month and gaining 4.2 percent on year in May. The jobless rate is expected to climb to 2.3 percent from 2.2 percent a month earlier.
Housing starts were up 1.3 percent on year in May, while construction orders tumbled 18.7 percent. The consumer confidence index is expected to show a score of 43.8, up from 43.7 in June.
China will see July results for the manufacturing, non-manufacturing and composite indexes. In June, the manufacturing index had a score of 51.5, while the non-manufacturing index was at 55.0 and the composite came in at 54.4.
Australia will release June numbers for building approvals and private sector credit.
Building approvals are expected to add 1.0 percent on month and fall 6.0 percent on year after dipping 3.2 percent on month and gaining 3.1 percent in May. Credit is tipped to add 0.3 percent on month and 4.5 percent on year after gaining 0.2 percent on month and 4.8 percent on year a month earlier.
New Zealand will provide June data for building permits and also see July results for the business confidence and activity outlook surveys from ANZ. Building permits were up 7.1 percent on month in May, while the business confidence index score was -39.0 and the outlook was at 9.4.
South Korea will release June figures for industrial production and retail sales. In May, industrial production was up 1.1 percent on month and 0.9 percent on year, while retail sales fell 1.0 percent on month but gained 4.6 percent on year.
Malaysia will see June numbers for producer prices; in May, producer prices fell 0.4 percent on month and 2.2 percent on year.
Thailand will release June figures for imports, exports and trade balance. In May, imports were worth $21.23 billion and exports were at $22.22 billion for a trade surplus of $0.99 billion.