The central bank of the People’s Republic of China is responsible for formulating and implementing monetary policies, preventing and defusing financial risks and maintaining financial stability.
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Asia-Pacific markets saw a mixed open on Friday as investors digest inflation data out of Japan and await an interest rate decision in China.
The People’s Bank of China is due to release its loan prime rate decision on Friday, with traders watching if the central bank will cut rates in a bid to boost the Chinese economy.
The one-year LPR influences corporate loans and most household loans in China, while the five-year LPR serves as a benchmark for mortgage rates.
Currently, the one-year rate stands at 3.1%, while the five-year rate is at 3.6%.
Japan also released its November inflation numbers, a day after the Bank of Japan held rates at 0.25%.
The core inflation rate in the country — which strips out prices of fresh food — came in at 2.7%, slightly higher than the 2.6% expected from economists polled by Reuters
Headline inflation came in at 2.9%, higher than the 2.3% seen in October.
Japan’s Nikkei 225 climbed 0.11% on its open after the inflation reading, while the broad based Topix was up 0.32%.
South Korea’s Kospi was 0.95% down, and the small cap Kosdaq lost 0.63%.
Australia’s S&P/ASX 200 started the day down 0.98%, hitting its lowest level since Nov. 1. Futures for Hong Kong’s Hang Seng index stood at 19,730, pointing to a weaker open compared to the HSI’s close of 19,752.51.
Overnight in the U.S., the Dow Jones Industrial Average narrowly snapped its longest losing streak since 1974 on Thursday.
The 30-stock Dow added 0.04%, but other major U.S. indexes fell, with the S&P 500 down 0.09% and the Nasdaq Composite falling 0.10%.
The 10-year Treasury yield also rose for a second day, topping 4.5% and pressuring stocks. The benchmark yield surged more than 13 points in the previous session.
— CNBC’s Brian Evans and Pia Singh contributed to this report.
