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Financial News: Australia Rate Decision On Tap For Tuesday

Australia Rate Decision On Tap For Tuesday

08/06/2018 - 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 modest day for Asia-Pacific economic activity.

The RBA is widely expected to keep its benchmark lending rate unchanged at the record low 1.50 percent.

Australia also will see July results for the Performance of Construction Index from AiG; in June, the index score was 50.6.

Japan will see June figures for its leading and coincident indexes, as well as for household spending and labor cash earnings.

The leading index is expected to show a score of 105.3, down from 106.9 in May. The coincident is pegged at 116.2, down from 116.8. Household spending is expected to sink 1.3 percent on year after dropping 3.9 percent in the previous month. Labor cash earnings are predicted to rise an annual 1.6 percent after gaining 2.1 percent a month earlier.

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