CANBERA (dpa-AFX) - The Reserve Bank of New Zealand will wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, headlining a busy day for Asia-Pacific economic activity. The RBNZ is expected to hike its Official Cash Rate by 25 basis points, from 0.75 percent to 1.00 percent.
Australia will release Q4 numbers for its wage price index and for construction work done. Wage prices are tipped to rise 0.7 percent on quarter and 2.4 percent on year after gaining 0.6 percent on quarter and 2.2 percent on year in the three months prior. Construction work done is expected to climb 2.5 percent on quarter after sinking 0.3 percent in Q3.
Thailand will provide January figures for imports, exports and trade balance. Imports are expected to rise 22.15 percent on year, slowing from 33.4 percent in December. Exports are called higher by an annual 19.6 percent, down from 24.2 percent in the previous month. The trade deficit is pegged at $0.3 billion following the $0.35 billion shortfall a month earlier.
Singapore will see January data for consumer prices, with forecasts suggesting an increase of 0.3 percent on month and 4.1 percent on year after gaining 0.5 percent on month and 4.0 percent on year in December. Core CPI is expected to rise 2.5 percent on year, up from 2.1 percent in the previous month.
Taiwan will release January numbers for retail sales and industrial production, as well as Q4 current account data. In December, retail sales were up 3.7 percent on year and industrial output rose 9.98 percent, while the current account surplus in Q3 was $26.1 billion.
Finally, the markets in Japan are closed on Wednesday for the emperor's birthday; they'll return to action on Thursday.
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