A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.China's central bank is expected to leave key interest rates on hold on Thursday, but the pressure to ease is growing almost by the day.Japanese trade, Australian unemployment and Hong Kong inflation data top
China's central bank is expected to leave key interest rates on hold on Thursday, but the pressure to ease is growing almost by the day.
Sentiment was again positive during the U.S. session on Wednesday, but that may ebb and flow depending on how investors digest the top-tier U.S. earnings and outlooks released after the closing bell, including from IBM, Tesla and Netflix.After keeping the rate on maturing medium-term policy loans rolled over this week unchanged, all 26 analysts in a Reuters poll expect the one- and five-year benchmark loan prime rates to be left unchanged at 3.55 per cent and 4.20 per cent, respectively.
The main argument against cutting rates - and it's a valid one - is the currency. The yuan is languishing near November's 15-year low against the dollar, and widening the U.S.-China yield differential will add to the downward pressure and risk triggering large-scale capital outflows.
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