BUZZ-Week Ahead-Key data, RBA and RBNZ decisions, Trump dominate

Feb 17 (Reuters) - The week ahead features significant global economic data, and rate decisions in Australia and New Zealand, while U.S. President Donald Trump is expected to continue making waves with his policy plans.

U.S. markets are closed on Monday for Washington's Birthday. The Federal Reserve's Jan 28-29 meeting minutes are due on Wednesday. The key data releases include housing starts, the Philly Fed Business Index, weekly jobless claims, existing home sales, S&P Global flash February PMIs and final University of Michigan sentiment.

Federal Reserve speakers include Philadelphia President Patrick Harker, San Francisco President Mary Daly, Chicago President Austan Goolsbee and St Louis President Alberto Musalem.

The Reserve Bank of Australia is expected to lower its 4.35% cash rate by 25 basis points on Tuesday as a marked slowdown in inflation allows the first rate cut since the depths of the pandemic in 2020. Futures imply around an 85% chance of a cut 0#AUDIRPR, and the RBA's guidance will be key as a further 50 bps of easing is expected by end-2025.

RBA Governor Michele Bullock and other officials testify in parliament on Friday. The Q4 wage price index and January employment data are due.

In New Zealand, the RBNZ is widely expected to slash its 4.25% cash rate on Wednesday, with markets leaning towards a 50 bps cut. The bank's guidance via forecasts and the press conference will be watched, with analysts expecting more easing as inflation remains benign and the economy is in recession. PPI and trade data are also due.

Japan has preliminary Q4 GDP data, followed by machinery orders, trade, nationwide CPI and flash February PMIs. BOJ Board Member Takata Hajime speaks on Wednesday.

Euro zone flash PMIs, consumer confidence, trade data and the German ZEW survey lead Europe's calendar. Germany holds a snap national election on Sunday, Feb 23.

The UK releases employment data on Tuesday, Bank of England Governor Andrew Bailey speaks, then inflation, retail sales, and flash PMIs, which will provide a broad snapshot of the economy.

China's one-year and five-year loan prime rates are expected to remain unchanged on Thursday. January house prices are due.

Canada publishes inflation and retail sales data. Bank of Canada Governor Tiff Macklem speaks on Friday.

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