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Asia markets set for mixed open ahead of Bank of Japan rate decision, China business activity data

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The Bank of Japan is expected to raise its benchmark interest rate and detail its plan to trim its rate of bond buying.

Traders will be watching the Bank of Japan's rate decision, with economists polled by Reuters expecting the bank to raise rates to 0.1%.

Should the bank raise rates, this will mark the first time since 2010 that its benchmark interest rate stands firmly at 0.1% or higher. Asia-Pacific markets were set to open mixed on Wednesday as investors awaited the Bank of Japan's rate decision and China's business activity data.other analysts are expecting a larger hike.Australia's second-quarter inflation numbers are also in focus for clues on the Reserve Bank of Australia's moves at its next monetary policy meeting on Aug. 6.

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