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Financial News: RBA Rate Decision On Tap For Tuesday

RBA Rate Decision On Tap For Tuesday

10/02/2017 - 18:01:00 (RTTNews)

(RTTNews) - The Reserve Bank of Australia will on Tuesday wrap up its monetary policy meeting 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 1.50 percent.

Australia also will see August results for building approvals and new home sales, plus September numbers for job ads and commodity prices.

Building approvals are expected to add 1.0 percent on month and sink 16.2 percent on year after falling 1.7 percent on month and 13.9 percent on year in July. New home sales were down 3.7 percent on month in July.

Job ads were up 2.0 percent on month in August, while the RBA's commodity price index surged 20.1 percent on year to a score of 120.2.

Japan will release September numbers for monetary base and its consumer confidence index. The monetary base is expected to hold steady at 16.3 percent, while the consumer confidence index is tipped to rise to 43.5 from 43.3 in August.

Hong Kong will see August data for retail sales; in July, retail sales climbed 4.6 percent on year.

Thailand will release September numbers for consumer and producer prices. In August, inflation was up 0.11 percent on month and 0.30 percent on year, while core CPI added 0.05 percent on month and 0.50 percent on year. Producer prices gained 0.3 percent on month and fell 0.6 percent on year.

Finally, the markets in South Korea and China remain closed all week, for the Harvest Festival and National Day, respectively.

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