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Japan Interest Rate Decision Due On Friday


The Bank of Japan will wrap up its monetary policy meeting on Friday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The BoJ is widely expected to keep its benchmark lending rate unchanged at -0.10 percent.

Japan also will see July numbers for Tokyo-area inflation; in June, overall Tokyo inflation was up 3.1 percent on year and core CPI rose an annual 3.2 percent.

Australia will provide June figures for retail sales and Q2 data for producer prices. Sales are expected to be flat on month after adding 0.7 percent in May. Producer prices are tipped to add 0.9 percent on quarter and 3.9 percent on year, easing from 1.0 percent on quarter and 5.2 percent on year in the three months prior.

South Korea will release June figures for industrial production and retail sales. Output is expected to slump 2.3 percent on month and 7.6 percent on year after adding 3.2 percent on month and falling 7.3 percent on year in May. Sales are called flat on month after adding 0.4 percent in May.

Singapore will see Q2 numbers for unemployment; in the three months prior, the jobless rate was 1.8 percent.

Taiwan will release preliminary Q2 results for gross domestic product in the previous three months, GDP was down 2.87 percent on year.

Finally, the markets in Thailand are closed on Friday for King Maha’s birthday; they will re-open on Monday.

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