August National CPI data from Japan is due on Friday Japan time. We have had the Tokyo CPI data for August, which came in higher vs. July:
Tokyo area Aug inflation data: Headline 2.6% y/y (prior 2.2%)
The Bank of Japan statement follows a few hours later. There is no set time for the BoJ statement. There is no rate change expected:
Bank of Japan meeting this week – preview (no rate change expected)
We’ll also have Loan Prime Rate (LPR) setting from the People’s Bank of China. These benchmark lending rates remained unchanged in August:
one-year loan prime rate stayed at 3.35%the five-year rate was maintained at 3.85%
The PBOC’s Loan Prime Rate (LPR):
Its an interest rate benchmark used in China, set by the People’s Bank of China each month.The LPR serves as a reference rate for banks when they determine the interest rates for (primarily new) loans issued to their customers.Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.Its calculated based on the interest rates that a panel of 18 selected commercial banks in China submit daily to the PBOC.The panel consists of both domestic and foreign banks, with different weights assigned to each bank’s contributions based on their size and importance in the Chinese financial system.The LPR is based on the average rates submitted by these panel banks, with the highest and lowest rates excluded to reduce volatility and manipulation. The remaining rates are then ranked, and the median rate becomes the LPR.
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This snapshot from the ForexLive economic data calendar, access it here.
The times in the left-most column are GMT.
The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
This article was written by Eamonn Sheridan at www.forexlive.com.
