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Tuesday preview: Bank of Japan, Close Brothers in focus
(Sharecast News) - All eyes will be on the Bank of Japan with some traders banking on an end to its policy of negative interest rates and yield curve control.
Also out of Asia Pacific, overnight rate-setters Down Under were expected to announce their decision to keep its cash rate at 4.35%.
No major economic releases are due out in the U.K..
In the euro area, the market spotlight will be on the ZEW Institute's economic confidence gauge for Germany covering the month of March.
Stateside meantime, the Department of Commerce will publish housing starts and building permits figures for February.
Close Brothers Group is among the companies due to update its shareholders on Tuesday.
The merchant banking outfit is expected to post income of £472m for the six months ending on 31 January.
That is expected to yield a profit before tax for the first half of the year of £89m.
But according to Sanjena Dadawala at UBS, investors' focus will be on management's thoughts, actions and disclosures related to the Financial Conduct Authority's motor finance review.
"While the outcome and thus impact on firms remains uncertain, we've built in a £50m below the line provision for FY24 (£25m each in 1H and 2H) and £280m in total until FY26, and no dividends for FY24 (as announced by the firm) and half the FY23 DPS for FY25," the analyst told clients.
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