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Financial News: South Korea Rate Decision On Tap For Thursday

South Korea Rate Decision On Tap For Thursday

08/30/2017 - 18:00:00 (RTTNews)

(RTTNews) - The Bank of Korea 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 1.25 percent.

South Korea also will see July numbers for industrial production and retail sales. In June, industrial production was down 0.3 percent on month and 0.4 percent on year, while sales advanced 1.1 percent on month and 1.0 percent on year.

China will see August results for the manufacturing and non-manufacturing PMIs from the National Bureau of Statistics. In July, their scores were 51.4 and 54.5, respectively.

Japan will provide July figures for industrial production, housing starts, construction orders and vehicle production.

Industrial production is expected to fall 0.3 percent on month and rise 5.2 percent on year. That follows the 2.2 percent monthly increase and the 5.5 percent yearly gain in June.

Housing starts are expected to fall 0.3 percent on year after rising 1.7 percent in the previous month. Construction orders gained an annual 2.3 percent in June, while vehicle production jumped 6.9 percent.

Australia will release July data for private sector credit and Q2 figures for private capital expenditure.

Credit is expected to add 0.5 percent on month and 5.4 percent on year after rising 0.6 on month and 5.4 percent on year in June. Capex is tipped to add 0.2 percent after rising 0.3 percent in Q1.

New Zealand will see August results for the business confidence survey and activity outlook from ANZ; in July, their scores were 19.4 and 40.3, respectively.

Thailand will release July numbers for imports, exports and trade balance, plus Q2 figures for current account.

In June, imports were worth $16.87 billion and exports were at $19.81 billion for a trade surplus of $2.94 billion. The current account surplus in Q1 was $13.32 billion.

Finally, the markets in Malaysia are closed on Thursday for the National Day holiday and will re-open on Monday.

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