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Financial News: Bank Of Japan Rate Decision Due On Tuesday

Bank Of Japan Rate Decision Due On Tuesday

07/29/2019 - 18:01:00 (RTTNews)

(RTTNews) - The Bank of Japan will wrap up its monetary policy meeting on Tuesday 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 June figures for unemployment and industrial production. The jobless rate is expected to hold steady at 2.4 percent, while the job-to-applicant ratio is also expected to be unchanged at 1.62.

Industrial production is predicted to fall 1.8 percent on month and 2.0 percent on year after rising 2.0 percent on month and dropping 2.1 percent on year in May.

Australia will provide June numbers for building approvals, with forecasts suggesting an increase of 0.2 percent on month and a decline of 24.3 percent on year. That follows the 0.7 percent monthly increase and the 19.6 percent annual decline in May.

New Zealand will provide June data for building permits; in May, permits advanced 13.2 percent on month.

The Philippines will release June numbers for producer prices; in May, prices were down 0.02 percent on month and up 2.7 percent on year.

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