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Global Economy Week Ahead: Japan Inflation, BOJ Opinions, China Manufacturing PMI

24 Dec 2017 8:00 pm
By WSJ Staff 

The week ahead features an inflation reading from Japan, a summary of opinions from the Bank of Japan's latest monetary policy meeting and data on China's factory activity.

TUESDAY: Japanese consumer price data for November will show if inflation is picking up amid ongoing ultra-easy monetary policy from the central bank. (Release time is Monday evening in the U.S.) Core consumer prices rose 0.8% in October compared with the same month a year earlier, a faster pace than September's 0.7%. The figure was negative as recently as last December.

THURSDAY: The Bank of Japan releases a summary of opinions for its Dec. 20-21 meeting. (Release time is Wednesday evening in the U.S.) BOJ policy makers recently shot down the idea the central bank was preparing to raise interest rates in 2018. Despite a global wave of policy tightening, Gov. Haruhiko Kuroda said the central bank would keep rates where they are until Japan's sluggish inflation strengthens. The summary opinions could shed more light on how BOJ policy makers view Japan's economy heading into 2018, which could signal the pace of future policy rate increases.

Egypt's central bank releases a policy statement after a round of interest-rate increases over the past year. The decision to raise rates to curb the country's inflation was among a series of decisions that has helped lead foreign investors to pour money into Egyptian government debt this year after a sharp drop in the Egyptian pound made the debt more attractive. The statement could indicate if Egyptian central bankers are planning to stand pat on monetary policy that has helped flood the country with foreign investment, but also could stifle growth.

SATURDAY: China's National Bureau of Statistics releases its manufacturing purchasing managers index for December. The November figure rose to 51.8, reflecting resilience in the world's second-largest economy. The index has stayed above the 50 mark that separates expansion from contraction for 16 months.

(END) Dow Jones Newswires

December 24, 2017 15:00 ET (20:00 GMT)

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