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.
Peng Song | moment | Getty Images
Asia-Pacific markets are set to open mixed on Monday as traders await the key interest rate announcement on Chinese loans, while also awaiting Japan's general elections this weekend.
China's central bank is expected to cut one-year and five-year loan coverage rates by 20 basis points, according to a note from ING and reiterating a statement made by People's Bank of China Governor Pan Gongsheng on Friday.
ING also noted that the People's Bank of China is likely to issue its decision on the medium-term lending facility rate on Friday, although it is expected to be left unchanged at 2% after a 30 basis point cut last month.
“Regardless of the data, it is worth monitoring if there are potential further government briefings or a potential announcement on the timing of the National People’s Assembly meeting next week, as the stimulus rollout remains a key topic for markets,” ING said.
Other key economic data this week will include October inflation numbers in Tokyo, as well as third-quarter GDP numbers from South Korea.
Standard Nikki 225 It was set to rise, with its Chicago futures contract at 39,185 and its counterpart in Osaka at 39,040 versus the index's recent close of 38,981.75.
Hong Kong Hang Seng futures reached 20,782, indicating a weaker open compared to the HSI's close of 20,804.11.
Australia Standard & Poor's/ASX 200 The day started with an increase of 0.71%.
In the United States, the S&P 500 and the Dow Jones Industrial Average rose to record levels on Friday, achieving six consecutive weeks of gains.
The broad market index advanced 0.40%, closing at 5,864.67, while the Dow Jones Industrial Average rose 36.86 points, or 0.09%, to close at 43,275.91.
The Nasdaq Composite, led by Netflix's post-earnings jump, ended the day 0.63% higher at 18,489.55.
— CNBC's Lisa Kailay Hahn and Alex Haring contributed to this report.
