RTTNews - Taiwan is scheduled to release gross domestic product and current account data for the second quarter of 2009 on Thursday afternoon, setting the pace for a modest day for Asian economic news.

GDP is expected to contract 7.8 percent on year following the 10.24 percent annual decline in the previous three months. Current account is expected to show a surplus of $9.35 billion following the $12.991 billion surplus in the first quarter.

The Philippines central bank will announce its decision on interest rates, with analysts predicting that the bank will keep rates unchanged at the current 4 percent.

Hong Kong will release July numbers for its consumer price index. Forecasts call for a decline of 1.5 percent on year following the 0.9 percent annual easing in June.

Malaysia will provide foreign reserves figures for the week ending August 15. Forecasts predict a surplus of $91.4 billion after a $91.16 billion surplus in the previous week.

Finally, Bank of Japan policy board member Atsushi Mizuno will speak at a business meeting in Okayama City.

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