SYDNEY (MarketWatch) � Asian investors will be waiting for Chinese consumer price data in the week ahead to gauge the likelihood of more monetary policy easing from Beijing.
Economists widely expect the data, due Thursday, to show Chinese consumer prices moderated to grow at around 4% in January on an annual basis. That would represent an easing from the 4.1% growth recorded in December.
Consumer-price inflation cooled in December, compared to November, and investors are likely hoping for a further decline in consumer prices in order to clear the way for further loosening in Chinese monetary policy to support economic growth.
Concerns about the health of the Chinese economy linger, with last week�s manufacturing survey data from China showing a slight improvement but also indicating that the sector remains sluggish.
The inflation numbers will be followed by Chinese trade data on Friday.
The health of the Chinese economy is of particular interest to Australia�s policy makers, given that China imports an outsized proportion of Australian commodities.
The Reserve Bank of Australia�s interest-rate-setting committee is set to announce a decision on interest rates early next week, and many economists expect another quarter-point interest rate cut from the central bank at its first meeting of the year.
The RBA�s key cash rate currently stands at 4.25%, having been cut twice in quick succession at the end of last year after developments in Europe unsettled global markets.
Elsewhere on the Asian economic calendar, the Bank of Korea will also announce a policy decision, while Indian industrial-produc! tion dat a, and Japanese machinery orders and balance-of-payments data are also due.
On the corporate front, Japanese car giant Toyota Motor Corp. JP:7203 �TM �is slated to announce fiscal third-quarter results on Tuesday, while Nissan Motor Co. JP:7201 � NSANY �is due to report quarterly results the next day.
Analysts are expecting Toyota to report an attributable net profit of 67.5 billion yen (886 million) for the quarter, from �93.63 billion in the year-ago quarter, on revenue of �4.892 trillion, compared to �4.673 trillion, according to consensus data compiled by Thomson Reuters.
Back in November, when it announced second-quarter results, Toyota said that its operating income took a hit from currency fluctuations and that Japanese and North American sales dropped sharply due to the earthquake that devastated Japan early last year.
Nissan is expected to report a net profit of �68.60 billion, down from �80.07 billion last year, according to data compiled by Thomson Reuters.
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