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Financial News: Bank Of Japan Rate Decision Due On Thursday

Bank Of Japan Rate Decision Due On Thursday

09/16/2020 - 18:00:00 (RTTNews)

(RTTNews) - 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 in Asia-Pacific economic activity.

The central bank is widely expected to keep its benchmark lending rate unchanged at -0.1 percent, although it may introduce other means of stimulus.

Australia will release unemployment data for August, with forecasts suggesting the loss of 50,000 jobs following the addition of 114,700 jobs in July. The unemployment rate is tipped to rise to 7.7 percent from 7.5 percent a month earlier. The participation rate is called steady at 64.7 percent.

New Zealand will provide Q2 numbers for gross domestic product, with forecasts suggesting a decline of 12.8 percent on quarter and 13.3 percent on year. That follows the 1.6 percent quarterly decline and the 0.2 percent yearly drop in the previous three months.

Singapore will see August trade data; in July, non-oil exports were up 1.2 percent on month and 6.0 percent on year, with a trade surplus of SGD3.3 billion.

The de facto central bank in Taiwan will conclude its monetary policy meeting and announce its decision on interest rates; the bank is expected to keep its benchmark lending rate steady at 1.125 percent.

Hong Kong will release August unemployment numbers; in July, the jobless rate was 6.1 percent.

The central bank in Indonesia will conclude its monetary policy meeting and announce its decision on interest rates. The bank is widely expected to keep its benchmark lending rate steady at 4.0 percent. The deposit facility rate is called unchanged at 3.25 percent and the lending facility rate is called steady at 4.75 percent.

Thailand will release August figures for new car sales; in July, sales tumbled 24.8 percent on year.

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