The biggest event this week will be the Bank of Japan's monetary policy decision on Wednesday.
The BOJ stunned markets last month by effectively raising the cap on the 10-year yield to 0.50% from 0.25% and investors have gunned for it since - it hit 0.55% last week, forcing the BOJ to ramp up its already massive quantities of bond purchases.
The BOJ may also raise its inflation forecasts on Wednesday, ahead of December inflation data on Friday.has been on a tear recently. The BOJ stunned markets again in October by intervening in FX market buying yen for the first time since 1998 - three bouts of intervention in total have helped push the yen to a seven-month high of 127.50 per dollar, a far cry from October's low of 151.00.
China's yuan also has been surging against the beleaguered dollar on soaring optimism surrounding the country's reopening now that Beijing has ditched itsChinese house price data will be released on Monday, before a barrage of releases the following day - Q4 GDP, and December retail sales, industrial production and fixed investment.
Bank Negara Malaysia is expected to raise rates by a quarter point on Thursday, to 3.00%. Goldman predicts another two 25 bps increases for a peak rate of 3.50% by May, while Morgan Stanley's team reckons this will be the last hike of the cycle. Elsewhere, there are no fewer than 11 speeches from Fed officials lined up this week, and a record number of world leaders, policy makers and top corporate chiefs will attend the World Economic Forum in Davos.- China house prices Reporting by Jamie McGeever in Orlando, Fla.; Editing by Diane Craft
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