China’s central bank will announce its latest key interest rate, the loan prime rate. It could leave the benchmark rate unchanged for the seventh straight month as the economy shows signs of improving.
The retail sales figure for October should underline the rebound by consumers. However, the unemployment rate for October, which could show a rise from 5.4% in the previous month could show that the central government still has work to do.
Unlike China, retail sales in the UK could have come off the boil slightly in October. After three consecutive months of improving sales growth, the growth rate last month could have slowed from 4.7% in September to just 4%.
Markets could get a better picture of Japan’s economy when it reports GDP growth rate for the third quarter. It is expected to show that the economy rebounded between July and September, whilst the rate of inflation remained subdued.
The central bank of Indonesia is expected to keep its benchmark interest rate unchanged at 4%. The Bank of Thailand could do the same, too. It could keep its key policy rate at 0.5%. The same goes for the Philippines central bank, which could hold its benchmark rate at 2.25%.
Going back to Thailand, which many of us would like to do, the Land of Smiles could say that the economy rebounded in the third quarter. But the Thai economy is still expected to register an 8.5% shrinkage year on year.
And finally, if you think visitor arrivals in Singapore are bad, spare a though for Sri Lanka that has had no tourist arrivals for the last six months. The country has stopped all passenger flight and ship arrivals since March amidst the coronavirus pandemic.
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Disclosure: David Kuo does not own shares in any of the companies mentioned.
