Japan Rate Decision On Tap For Wednesday

(RTTNews) - The Bank of Japan is scheduled to wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity. The bank is expected to keep its benchmark lending rate steady at -0.1 percent, although other forms of stimulus may be introduced.

Japan also will see September figures for retail sales, with forecasts suggesting an increase of 3.6 percent on month and 6.1 percent on year. That follows the 4.8 percent monthly increase and the 2.0 percent annual gain. Large retailer sales are expected to jump 8.8 percent on year after adding 0.4 percent in the previous month.

Australia will release Q3 numbers for consumer prices, with forecasts calling for an increase of 0.5 percent on quarter and 1.7 percent on year. That follows the 0.6 percent quarterly increase and the 1.6 percent yearly gain in Q2.