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Financial News: China Trade Data On Tap For Wednesday

China Trade Data On Tap For Wednesday

07/12/2022 - 18:00:00 (RTTNews)

(RTTNews) - China will on Wednesday release June figures for imports, exports and trade balance, highlighting a busy day for Asia-Pacific economic activity.

Imports are expected to rise 3.9 percent on year, easing from 4.1 percent in May. Exports are called higher by an annual 12.0 percent, down from 16.9 percent in the previous month. The trade surplus is pegged at $75.7 billion, down from $78.76 billion a month earlier.

The Bank of Korea will wrap up its monetary policy meeting and then announce its decision on interest rates. The central bank is expected to hike its benchmark lending rate by 50 basis points, from 1.75 percent to 2.25 percent.

The Reserve Bank of New Zealand likewise will conclude its monetary policy discussions and announce its decision on interest rates. The bank is expected to raise its Official Cash Rate (OCR) by 50 basis points, from 2.00 percent to 2.50 percent.

New Zealand also will release June figures for food inflation; in May, food prices climbed 6.8 percent on year.

Australia will see July results for the consumer confidence index from Westpac Bank; in June, the index slipped 4.5 percent to a score of 86.4.

Finally, the markets in Thailand are closed on Wednesday for Asarnha Bucha Day and will re-open on Thursday.

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