New Zealand Unemployment Data Due On Wednesday

(RTTNews) - New Zealand will on Wednesday release unemployment data for the third quarter of 2022, highlighting a modest day for Asia-Pacific economic activity.

The jobless rate is expected to ease to 3.2 percent from 3.3 percent in the three months prior, with an increase in the workforce of 0.5 percent on quarter following the flat reading in Q2. The participation rate is expected to climb to 71.0 from 70.8.

South Korea will provide consumer price data for October, with forecasts suggesting an increase of 0.2 percent on month and 5.6 percent on year following the 0.3 percent monthly increase and the 5.6 percent yearly gain in September.

Australia will see September figures for home loans and building permits. In August, home loans were down 2.7 percent on month, while building permits surged 28.1 percent on month and fell 9.5 percent on year.

The Bank of Japan will release the minutes from its September 21-22 monetary policy meeting. At the meeting, the BoJ decided to maintain a negative interest rate of -0.1 percent on current accounts that financial institutions maintain at the central bank.

The bank will continue to purchase a necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent. The BoJ also extended the deadline for the application for the special funds provided mainly to small and medium-sized firms in response to Covid-19 by six months.