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Financial News: RBA Rate Decision On Tap For Tuesday

RBA Rate Decision On Tap For Tuesday

07/02/2018 - 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 May numbers for building approvals, with forecasts suggesting a flat monthly reading and a 9.9 percent yearly jump. That follows the 5.0 percent monthly drop and the 1.9 percent yearly gain in April.

Japan will release June figures for monetary base; in May, the base climbed8.1 percent on year.

Hong Kong will provide Retail sales data for May; in April, sales jumped 12.3 percent on year.

Thailand will see June numbers for consumer and producer prices. In May, overall inflation was up 2.14 percent on month and 1.50 percent on year, while core CPI advanced 1.95 percent on month and 0.80 percent on year. Producer prices were up 3.0 percent on month and 0.7 percent on year.

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