Financial events are held all over the world. Here we will introduce some representative events.
May 22 08:50 JPT; 23:50 GMT, In March 2023, Japan’s core machinery orders excluding those for ships and electric power decreased by 3.9% from the previous month, slightly improving from the 4.5% decrease in February, but compared to market forecasts. This did not reach the 0.7% increase.
This volatile data series is considered a leading indicator of capital spending over the next six to nine months.
On an annualized basis, private machinery orders decreased by 3.5% in March, reversing the 9.8% increase in February and contrary to market expectations of a 1.4% increase.
May 22 10:15 JPT; 01:15 GMT, The People’s Bank of China (PBoC) said the economic recovery was on track after most anti-Covid measures were withdrawn last December. Key lending interest rates were left unchanged for eight consecutive months.
The one-year loan prime rate (LPR), which the medium-term lending system uses for loans to businesses and households, remained unchanged at 3.65%, and the five-year interest rate, which is the benchmark for home loans, was maintained at 4.3%.
China’s economy expanded by 4.5% year-on-year in the first quarter of 2023, accelerating from the 2.9% increase in the fourth quarter. The GDP growth numbers were the strongest since the first quarter of 2022, beating market expectations of 4%. China last cut both LPRs in August.
