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Financial News: Australia Rate Decision On Tap For Tuesday

Australia Rate Decision On Tap For Tuesday

08/05/2019 - 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 central bank is widely expected to leave its benchmark lending rate at the record low of 1.00 percent.

Australia also will see June trade data and July numbers for job advertisements. The trade balance is expected to show a surplus of A$6.00 billion, up from A$5.745 billion in May. Job ads were up 4.6 percent on month in June.

New Zealand will release Q2 data for unemployment, with the jobless rate expected to come in at 4.3 percent - up from 4.2 percent in the three months prior. The employment change is expected to add 0.3 percent on quarter and 1.2 percent on year after easing 0.2 percent on quarter and rising 1.5 percent on year in Q1.

Japan will provide June numbers for household spending, labor cash earnings and its leading and coincident indexes.

Household spending is expected to add 1.2 percent on year, slowing from 4.0 percent in May. Labor cash earnings are tipped to fall an annual 0.8 percent after easing 0.2 percent in the previous month. Real cash earnings are predicted to slide 1.6 percent on year after losing 1.0 percent a month earlier.

The leading index is expected to show a score of 93.5, down from 94.9 in May. The coincident index is pegged at 100.4, down from 103.4 in the previous month.

South Korea will release June figures for current account; in May, the current account surplus was $4.95 billion.

The Philippines will provide July numbers for consumer prices; in June, overall inflation was up 0.2 percent on month and 2.7 percent on year, while core CPI rose 3.3 percent on year.

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