- Japan’s preliminary second-quarter GDP figure showed a 0.2-percent increase over last quarter as well as year-over-year growth of 2 percent.
- Hong Kong’s preliminary May-July unemployment rate fell 0.1 percent to 4.9 percent from the previous three month period. The rate is 0.8 percent less than the same period in 2005. Preliminary figures show the country’s Q2 GDP was unchanged from the last quarter but increased 5.1 percent since the same period in 2005.
- The Bank of Korea raised its overnight call rate 0.25 percent to 4.5 percent, the fifth 25-bp increase in less than a year.
- Australia’s July unemployment rate fell 0.1 percent to 4.8 percent from the previous month and 0.2 percent compared to the same month in 2005.
- The Reserve Bank of Australia raised its cash rate 0.25 percent to 6 percent. The RBA has now raised interest rates twice in four months after previously leaving them unchanged since March 2005.
- Bank of Indonesia continued its loosening cycle, dropping the reference rate 50 bps to 11.75 percent. The rate stood at 12.75 percent in January.
- Singapore’s second-quarter unemployment rate rose 0.3 percent to 2.9 percent compared to the previous quarter and fell 0.5 percent from the same quarter last year, according to preliminary figures. Second quarter GDP figures show a 6.5-percent increase from Q2 2005.
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