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(CEP News) - Central banks will be the main focus in the Asia Pacific next week, with the Bank of Japan's monetary policy meeting, and the release of the Reserve Bank of Australia's minutes from its March meeting.
With rates already at a low 0.10%, the Bank of Japan is not expected to cut rates, but rather announce new asset purchase measures. The Bank of Japan has been buying up Japanese government bonds, corporate bonds and commercial paper to support financial markets. "There is still plenty of room to extend the size and duration of existing schemes as well as to add new assets to the list," Capital Economics economist Julian Jessop said. The Reserve Bank of Australia's minutes from its March 12 meeting will be released early in the week. "The RBA minutes may give insight into its 'on hold' decision," economists at UBS said, referring to the RBA decision to keep rates unchanged at the last meeting. In international news, the G20 is meeting in Horsham, England over the weekend to come up with the agenda for the official meeting in London on April 2. Comments from global leaders indicate the main topics will be fiscal stimulus, more funding for the International Monetary Fund and a revamping of financial regulation. Asia Pacific member nations include Australia, China, India, Indonesia, Japan and South Korea. All times in EDT. Saturday: G20 Members Meeting in West Sussex England to Discuss Agenda for Official Meeting on April 2 March 14-16 CN Leading Index January Prior: +98 March 14-16 CN Coincident Index January Prior: +97.11 Sunday: 17:30 NZ Feb. Perf. Of Services Index 17:45 NZ Manufacturing Activity Q4 Prior: +1.3% 22:00 NZ Resident Bond Holdings February Prior: 74.0% OPEC Meets in Vienna Austria to Discuss Oil Production March 14-16 CN Leading Index January Prior: +98 March 14-16 CN Coincident Index January Prior: +97.11 Monday: 00:00 JP Tokyo Condominium Sales (Y/Y) February Prior: -24.1% 19:50 JP Tertiary Industry Index (M/M) January Exp: -0.5% Prior: -1.6% 20:30 AU Reserve Bank Board's March Minutes March 14-16 CN Leading Index January Prior: +98 March 14-16 CN Coincident Index January Prior: +97.11 Tuesday: 2:00 JP Machine Tool Orders (Y/Y) February Final Prior: -83.9% 19:30 AU Westpac Leading Index (M/M) January Prior: -0.4% March 17 JP Bank of Japan Interest rate decision Exp: 0.10% Prior: 0.10% Wednesday: 1:00 JP Bank of Japan Monthly Report 1:00 JP Leading Index CI January Final Prior: +77.1 1:00 JP Coincident Index CI January Final Prior: +89.6 16:50 AU Assistant RBA Governor Edey Gives Speech in Sydney 19:50 JP All Industry Activity Index (M/M) January Exp: -2.1% Prior: -2.7% 19:50 JP Foreign Buying Japan Bonds W/E March 13 Prior: -¥221.5B 19:50 JP Foreign Buying Japan Stocks W/E March 13 Prior: -¥659.1B 19:50 JP Japan Buying Foreign Stocks W/E March 13 Prior: +¥334.7B 19:50 JP Japan Buying Foreign Bonds W/E March 13 Prior: -¥897.8B 20:00 AU Westpac-ACCI 1st-Qtr Survey of Industrial Trends 20:30 AU New Motor Vehicle Sales (M/M) February Prior: -1.1% 20:30 AU Dwelling Starts Q4 20:30 AU RBA Foreign Exchange Transactions February 20:30 AU New Motor Vehicle Sales (Y/Y) February Prior: -16.9% 20:30 AU Preliminary BoP Imports (M/M) (SA) February Prior: -8.0% Thursday: 1:30 JP Tokyo Dept. Store Sales (Y/Y) February Prior: -9.6% 1:30 JP Nationwide Dept. Sales (Y/Y) February Prior: -9.1% 17:45 NZ Visitor Arrivals February Prior: -3.0% 22:00 NZ Credit Card Spending (Y/Y) February Prior: -2.2% Friday: March 20-23 CN Actual FDI YTD (Y/Y) February Prior: -32.6% By Megan Ainscow,
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