Financial News: New Zealand Rate Decision On Tap For Wednesday

New Zealand Rate Decision On Tap For Wednesday

02/21/2023 - 17:23:00 (RTTNews)

(RTTNews) - The Reserve Bank of New Zealand will wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The RBNZ is expected to hike its Official Cash Rate by 50 basis points, from 4.25 percent to 4.75 percent.

Japan will release January figures for producer prices, with forecasts suggesting no change at 1.5 percent on year.

Australia will provide Q4 numbers for construction work and wage prices. Construction work done is expected to rise 1.5 percent on quarter, slowing from 2.2 percent in the previous three months. Wage prices are called higher by 1.0 percent on quarter and 3.5 percent on year after rising 1.0 percent on quarter and 3.1 percent on year in Q3.

Hong Kong will see Q4 data for gross domestic product, with forecasts calling for a flat quarterly reading and a 4.2 percent annual decline. That follows declines of 2.6 percent on quarter and 4.6 percent on year in the previous three months.

Taiwan will release Q4 numbers for gross domestic product, with forecasts calling for a decline of 086 percent on year following the 4.01 percent expansion in the three months prior.

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