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Australia Private Sector Credit Gains 0.3% In January



Private sector credit in Australia was up 0.3 percent on month in January, the Reserve Bank of Australia said on Friday - exceeding forecasts for 0.2 percent, which would have been unchanged from the previous month.

On a yearly basis, private sector credit was up 2.5 percent - again topping expectations for 2.4 percent, which would have been unchanged from the December reading.

Housing credit was up 0.3 percent on month and 3.1 percent on year, while personal credit lost 0.6 percent on month and 5.0 percent on year and business credit gained 0.5 percent on month and 2.8 percent on year.

Broad money was up 0.4 percent on month and 4.2 percent on year.

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BoJ Chief Vows To Ensure Stability In Financial Markets





Bank of Japan Governor Haruhiko Kuroda on Monday said the bank will ensure stability in the financial markets via asset purchases.


"The Bank of Japan will closely monitor future developments, and will strive to provide ample liquidity and ensure stability in financial markets through appropriate market operations and asset purchases," he said in a statement.


He noted that global financial and capital markets have been unstable with rising uncertainties about the outlook for economic activity due to the spread of the novel coronavirus.

Japan Monetary Base Jumps 3.6% In February



The monetary base in Japan was up 3.6 percent on year in February, the Bank of Japan said on Tuesday - coming in at 510.631 trillion yen.

That follows the 2.9 percent increase in January.

Banknotes in circulation were up 2.0 percent on year, while coins in circulation gained 2.1 percent.

Current account balances gained 4.0 percent, including a 3.1 percent jump in reserve balances.

The adjusted monetary base surged an annual 12.4 percent to 521.104 trillion yen.

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Australia GDP On Tap For Wednesday



Australia is on Wednesday scheduled to release Q4 numbers for gross domestic product, highlighting a busy day in Asia-Pacific economic activity. GDP is expected to gain 0.4 percent on quarter and 2.0 percent on year after rising 0.4 percent on quarter and 1.7 percent on year in the previous three months.

Australia also will see February data for the Performance of Construction Index from AiG; in January, the index score was 41.3.

China will see February results for the services and composite indexes from Caixin; in January, their scores were 51.8 and 51.9, respectively.

Japan will see final February numbers for the services and composite indexes from Jibun Bank; their previous scores were 46.7 and 47.0, respectively.

New Zealand will provide January figures for building permits; in December, permits were up 9.9 percent.

Malaysia will provide January data for imports, exports and trade balance. In December, imports were worth 73.82 billion ringgit and exports were at 86.40 billion ringgit for a trade surplus of 12.58 billion ringgit.

The Philippines will release February figures for consumer prices; in January, overall inflation was up 0.6 percent on month and 2.9 percent on year, while core CPI gained an annual 3.3 percent.

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Australia Trade Surplus A$5.210 Billion In January



Australia posted a seasonally adjusted merchandise trade surplus of A$5.210 billion in January, the Australian Bureau of Statistics said on Thursday - down 3.0 percent on month.

That exceeded expectations for a surplus of A$4.80 billion following the A$5.223 billion surplus in the previous month.

Exports were down 3.0 percent on month to A$40.122 billion,

Non-monetary gold fell A$735 million (34 percent), non-rural goods fell A$714 million (3 percent) and net exports of goods under merchanting fell A$8 million. Rural goods rose A$236 million (6 percent). Services credits rose A$54 million (1 percent).

Imports sank 3.0 percent on month to A$34.911 billion.

Capital goods fell A$640 million (10 percent), intermediate and other merchandise goods fell A$466 million (4 percent) and consumption goods fell A$19 million. Non-monetary gold rose A$225 million (60 percent). Services debits fell A$101 million (1 percent).

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Japan Household Spending Sinks 3.9% On Year In January



The average of household spending in Japan was down 3.9 percent on year in January, the Ministry of Internal Affairs and Communications said on Friday - coming in at 287,173 yen.

That was in line with expectations following the 4.8 percent decline in December.

The average of monthly income per household stood at 484,697 yen, up an annual 2.1 percent.

Individually, spending was down for food, housing, fuel, furniture, clothing, medical care, communication, education and recreation.

Disposable income was up 2.3 percent and consumption expenditures fell 4.9 percent.

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Japan Has Y612.3 Billion Current Account Surplus



Japan had a current account surplus of 612.3 billion yen in January, the ministry of Finance said on Monday - up 6.6 percent on year.

That was shy of expectations for 623.5 billion yen and up from 524.0 billion yen in December.

The trade balance reflected a deficit of 985.1 billion yen - also missing forecasts for a shortfall of 962.0 billion yen following the 120.7 billion yen surplus in the previous month.

The adjusted current account saw a surplus of 1,626.8 billion yen, shy of forecasts for 1,664.1 billion yen and down from 1,852.0 billion yen a month earlier.

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Japan M2 Money Stock Climbs 3.0% On Year In February



The M2 money stock in Japan was up 3.0 percent on year in February, the Bank of Japan said on Tuesday - coming in at 1,039.8 trillion yen.

That follows the 2.8 percent increase in January.

The M3 money stock gained an annual 2.5 percent to 1,375.4 trillion yen following the 2.3 percent gain in the previous month. Included in M3, the M1 stock jumped an annual 6.0 percent.

The L money stock climbed 2.7 percent on year to 1,839.2 trillion yen - roughly steady from a month earlier.

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New Zealand February Overall Credit Card Spending Unchanged In February



New Zealand's overall credit card spending was flat on month, seasonally adjusted, in February, Statistics New Zealand said on Wednesday - just shy of forecasts for 0.1 percent following the 0.3 percent gain in January.

Retail credit card spending gained 0.6 percent on month - beating forecasts for a decline of 0.3 percent following the 0.1 percent drop in the previous month.

Spending in the core retail industries (which excludes the vehicle-related industries) gained 0.8 percent on month.

By industry, the movements were: consumables, up NZ$51 million (2.4 percent); durables, up NZ$12 million (0.8 percent); motor vehicles (excluding fuel), up NZ$0.6 million (0.3 percent); fuel, down NZ$1.4 million (0.2 percent); apparel, down NZ$1.8 million (0.6 percent); and hospitality, down NZ$8.5 million (0.8 percent).

The total value of electronic card spending, including the two non-retail categories (services and other non-retail), was up by NZ$1.9 million (relatively flat) in February 2020. This follows a 0.2 percent increase in the previous month.

The non-retail (excluding services) category was down NZ$15 million (0.8 percent), and the services category fell NZ$3.4 million (1.1 percent) in February 2020.

Retail spending using electronic cards was NZ$5.7 billion, up 8.6 percent (NZ$452 million) from February 2019.

In actual terms, cardholders made 159 million transactions across all industries in February, with an average value of NZ$49 per transaction. The total amount spent using electronic cards was NZ$7.8 billion.

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Japan Producer Prices Sink 0.4% In February



Producer prices in Japan were down 0.4 percent on month in February, the Bank of Japan said on Thursday.

That was shy of expectations for a decline of 0.3 percent following the 0.2 percent increase in January.

On a yearly basis, producer prices advanced 0.8 percent - again missing forecasts for a gain of 1.1 percent after climbing 1.7 percent in the previous month.

Export prices gained 0.3 percent on month and fell 2.1 percent on year, the bank said, while import prices added 0.1 percent on month and dropped 1.5 percent on year.

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