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Philippinecentralbank-073114.jpg The Philippine central bank on Thursday lifted its key interest rates for the first time in more than three years, citing elevated inflation expectations.The Bangko Sentral ng Pilipinas raised its overnight borrowing rate by 25 basis points to 3.75 percent from 3.50 percent and the overnight lending rate to 5.75 percent from 5.50 percent.

Hong Kong's retail sales declined at a faster rate in June, exceeding the consensus estimate, data from the Census and Statistics Department showed Thursday. The retail sales value fell 6.9 percent year-over-year in June following the revised 3.9 percent drop in May. This was worse than the 5.1 percent...

Thailand's current account balance showed a surplus in June after posting negative figures for two straight months, data from Bank of Thailand showed Thursday. The current account surplus totaled $1.83 billion versus $664 million deficit in May. Merchandise exports grew 3.8 percent from last year...

China-Flag-073114.jpg The International Monetary Fund said China should target 6.5-7 percent growth for 2015, lower than the 7.5 percent goal for this year, and deploy stimulus only if growth were to slow significantly below the target. While most of its directors estimate 6.5-7 percent growth, a few others assessed a lower target as more appropriate, the IMF said in a report published late Wednesday.

Japan's housing starts declined less than expected in June, data revealed Thursday. Housing starts dropped 9.5 percent year-over-year in June, a slower rate of decline than the 15 percent fall in May, the Ministry of Land, Infrastructure, Transport and Tourism said. Economists expected a 11.5 percent...

Automobile production in Japan expanded for the tenth consecutive month in June, figures from the Japan automobile Manufactures Association showed Thursday. Production volume of four-wheel vehicles advanced 6.6 percent to 857,137 units in June. In the year-ago period, production was at 804,125 units....

New Zealand's money supply increased at a faster pace in June, figures from the Reserve Bank of New Zealand showed Thursday. M3 money supply, the broadest measure of money supply, rose 5.4 percent year-on-year to NZ$272.5 billion in June. This follows a 5.2 percent rise in May. M3 resident aggregate...

Total labor cash earnings in Japan increased at a less than expected rate in June, a report from the Ministry of Health, Labor and Welfare showed Thursday. Total earnings rose 0.4 percent year-over-year in June following the revised 0.6 percent increase in May. This fell below the 0.8 percent growth...

trade.jpg The total number of building approvals issued in Australia gained a seasonally adjusted 16.0 percent on year in June, the Australian Bureau of Statistics said on Thursday - coming in at 15,659. That was shy of forecasts for an increase of 23.3 percent following the upwardly revised 15.2 jump in May...

Singapore's unemployment rate grew at a steady pace in the second quarter as employment decreased moderately, data from the Ministry of Manpower showed Thursday. The jobless rate increased 2 percent quarter-over-quarter in the second quarter, the same rate as in Q1 - in line with the consensus estimate. The...

Export prices in Australia were down 7.9 percent on quarter in the second quarter of 2014, the Australian Bureau of Statistics said on Thursday. That missed forecasts for a decline of 4.0 percent following the downwardly revised 2.8 percent increase in the first quarter (originally 3.6 percent). Import...

Private sector credit in Australia was up 0.7 percent on month in June, the Reserve Bank of Australia said on Thursday - beating forecasts for 0.4 percent, which would have been unchanged. On a yearly basis, private sector credit climbed 5.1 percent - also topping expectations for a gain of 4.7 percent,...

The total number of building approvals issued in Australia climbed a seasonally adjusted 16.0 percent on year in June, the Australian Bureau of Statistics said on Thursday - standing at 15,659. That was shy of forecasts for an increase of 23.3 percent following the upwardly revised 15.2 jump in May...

Taiwan's economic growth accelerated more than expected in the second quarter, fueled by growth in private consumption and exports, an advance estimate released by the Directorate-General of Budget, Accounting and Statistics showed Thursday. Gross domestic product increased by an unadjusted 3.84 percent...

Australia is set to release a raft of data on Thursday, highlighting a busy day for Asia-Pacific economic activity. On tap are Q2 numbers for import and export prices, as well as June figures for building approvals and private sector credit. Import prices are expected to fall 1.5 percent on quarter...