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Bank Of Japan Rate Decision On Tap For Wednesday

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

Japan also will see August numbers for vehicle production, September figures for industrial production, housing starts and construction orders and October results for consumer confidence.

Vehicle production fell 2.0 percent on year in July. Industrial production is expected to slide 0.3 percent on month and 2.1 percent on year after adding 0.2 percent both on month and on year in August.

Housing starts are predicted to fall 0.6 percent on year after rising 1.6 percent in the previous month. Construction orders gained an annual 0.5 percent in August. The consumer confidence index is tipped to show a score of 43.5, up from 43.4 in September.

China will see October results for its manufacturing, non-manufacturing and composite indexes. The manufacturing index is expected to see a score of 50.6, down from 50.8 in September. The non-manufacturing index is called unchanged at 54.9. The composite had a reading of 54.1 in the previous month.

New Zealand will release September numbers for building permits; in August, permits were up 7.8 percent on month. New Zealand also will see October results for the business confidence survey and activity outlook from ANZ; in September, their scores were -38.3 and +7.8, respectively.

Australia will see Q3 figures for consumer prices. Inflation is expected to rise 0.5 percent on quarter and 1.9 percent on year after adding 0.4 percent on quarter and 2.1 percent on year in the three months prior.

South Korea will see September figures for industrial production and retail sales. In August, output was up 1.4 percent on month and 2.5 percent on year, while sales were flat on month and up 6.0 percent on year.

Malaysia will provide September data for producer prices; in August, prices were down 0.1 percent on month and 0.3 percent on year.

The Philippines will release October numbers for producer prices; in September, prices fell 0.1 percent on month and 0.04 percent on year.

Thailand will see September data for imports, exports and trade balance. In August, imports were worth $21.78 billion and exports were at $22.38 billion for a trade surplus of $0.60 billion.

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