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Financial News: Australia Rate Decision On Tap For Tuesday

Australia Rate Decision On Tap For Tuesday

07/01/2019 - 18:00:00 (RTTNews)

(RTTNews) - The Reserve Bank of Australia will wrap up its monetary policy meeting on Tuesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity.

The RBA is expected to trim its benchmark lending rate by 25 basis points, from its already record low 1.25 percent to 1.00 percent.

Japan will release June figures for monetary base; in May, the base was up 3.6 percent on year.

New Zealand will provide May numbers for building permits; in April, permits tumbled 7.9 percent on month.

Hong Kong will see May data for retail sales; in April, sales skidded 5.0 percent on year.

The Philippines will release May numbers for producer prices; in April, producer prices fell 0.4 percent on month and gained 3.8 percent on year.

Thailand will provide consumer and producer price numbers for June. In May, core CPI was up 0.1 percent on month and 0.5 percent on year, while overall inflation was up 0.48 percent on month and 1.1 percent on year. Producer prices were up 0.3 percent on month and were flat on year.

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