Economic calendar in Asia 18 April 2023 - RBA minutes, China Q1 GDP & March economic data

The Reserve Bank of Australia minutes are of the April meeting, where the Bank paused its rate hike cycle after 10 consecutive monthly rate hikes. The Bank acknowledges that inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is still too high and is awaiting incoming data to assess the effects of the hikes so far. Changes to monetary policy take time to work through the economy. The next data point of note is Q1 CPI, due on April 26.

From China today we'll have Q1 GDP GDP Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Read this Term and March 'activity' data. Yesterday we had the Medium-term Lending Facility (MLF) rollover from the People's Bank of China:

• rate unchanged at 2.75%
• 150bn yuan matured, 170bn (220bn expected) was added for a net +20bn yuan addition, smaller than the consensus expected
• also injected 20 bn yuan through seven-day reverse repos, rate unchanged at 2%

The subdued action from the PBOC suggests the Bank is not overly concerned about the pace of the economic recovery. Eyes are on the GDP data and the March data today for further support for this view.