Highlights
In the US, the initial jobless claims for the March 4 week are expected to come in at 195,000 versus 190,000 in the prior week.
Federal Reserve Vice Chair for Supervision Michael Barr will speak on crypto activities at the Peterson Institute for International Economics in Washington at 10 a.m. EST (1500 GMT).
Rising costs and the eighth wave of the pandemic appear to have led to a third straight year-over-year drop in real household spending in Japan, down 0.3 percent in January, after falling sharper-than-expected 1.3 percent in December, when more people subscribed to discount mobile communications plans and refrained from buying increasingly more expensive new smartphones. Spending is expected to post a 1.1 percent rebound on the month after a 2.1 percent drop amid signs that the drag from the pandemic is easing.
Japanese producer prices are expected to show further easing in February as the government is trying to cap sharp increases in energy costs for both households and businesses. The corporate goods price index (CGPI) is forecast to have risen 8.5 percent from a year earlier after rising 9.5 percent in January and a 42-year high of 10.5 percent in December. The CGPI is seen down 0.3 percent on the month after being flat the previous month, which would be the first monthly drop since November 2020.
The Bank of Japan's policy board is expected to decide unanimously to maintain its basic monetary easing stance, keeping its zero to slightly negative interest rate targets along the yield curve and large asset purchases, against the backdrop of a possible recession in other major economies and an expected waning in inflation from the current spike boosted by high import costs. The board may discuss making the range for the 10-year bond yield more flexible after expanding it in December.
This is the last scheduled policy meeting for Governor Haruhiko Kuroda, whose second five-year term ends on April 8. His two deputies, Masayoshi Amamiya and Masazumi Wakatabe, will also retire at the end of their five-year terms on March 19. The government is expected to formally appoint economics professor Kazuo Ueda as BoJ governor, as well as Shinichi Uchida, one of the six BoJ executive directors supporting the governor, and Ryozo Himino, a former Ministry of Finance official, as deputy governors after their nominations are approved by the House of Representatives on Thursday and the House of Councillors on Friday.
Federal Reserve Vice Chair for Supervision Michael Barr will speak on crypto activities at the Peterson Institute for International Economics in Washington at 10 a.m. EST (1500 GMT).
Rising costs and the eighth wave of the pandemic appear to have led to a third straight year-over-year drop in real household spending in Japan, down 0.3 percent in January, after falling sharper-than-expected 1.3 percent in December, when more people subscribed to discount mobile communications plans and refrained from buying increasingly more expensive new smartphones. Spending is expected to post a 1.1 percent rebound on the month after a 2.1 percent drop amid signs that the drag from the pandemic is easing.
Japanese producer prices are expected to show further easing in February as the government is trying to cap sharp increases in energy costs for both households and businesses. The corporate goods price index (CGPI) is forecast to have risen 8.5 percent from a year earlier after rising 9.5 percent in January and a 42-year high of 10.5 percent in December. The CGPI is seen down 0.3 percent on the month after being flat the previous month, which would be the first monthly drop since November 2020.
The Bank of Japan's policy board is expected to decide unanimously to maintain its basic monetary easing stance, keeping its zero to slightly negative interest rate targets along the yield curve and large asset purchases, against the backdrop of a possible recession in other major economies and an expected waning in inflation from the current spike boosted by high import costs. The board may discuss making the range for the 10-year bond yield more flexible after expanding it in December.
This is the last scheduled policy meeting for Governor Haruhiko Kuroda, whose second five-year term ends on April 8. His two deputies, Masayoshi Amamiya and Masazumi Wakatabe, will also retire at the end of their five-year terms on March 19. The government is expected to formally appoint economics professor Kazuo Ueda as BoJ governor, as well as Shinichi Uchida, one of the six BoJ executive directors supporting the governor, and Ryozo Himino, a former Ministry of Finance official, as deputy governors after their nominations are approved by the House of Representatives on Thursday and the House of Councillors on Friday.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.
