Financial News: South Korea Rate Decision On Tap For Thursday

South Korea Rate Decision On Tap For Thursday

02/22/2023 - 17:30:00 (RTTNews)

(RTTNews) - The Bank of Korea 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 BoK is expected to keep its benchmark lending rate steady at 3.50 percent.

Australia will see Q4 figures for private new capital expenditure, with forecasts suggesting an increase of 1.3 percent on quarter following the 0.6 percent drop in the three months prior.

Singapore will release January numbers for consumer prices, with forecasts expecting an annual increase of 5.6 percent for core CPI and 7.1 percent for overall inflation. In December, they were at 5.1 percent and 6.5 percent, respectively.

Taiwan will provide January data for industrial production; in December, production slumped 7.93 percent on year.

Hong Kong will see January figures for consumer prices, with forecasts suggesting an increase of 1.90 percent on year, easing from 2.00 percent in December.

Finally, the markets in Japan are closed on Thursday for the Emperor's Birthday and will re-open on Friday.

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