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Financial News: Australia Rate Decision On Tap For Tuesday

Australia Rate Decision On Tap For Tuesday

02/05/2024 - 17:33:00 (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 4.35 percent.

Australia also will provide December and Q4 data for retail sales; sales were up 1.6 percent on month in November and up 0.2 percent on quarter in the third quarter of 2023.

Japan will release December numbers for household spending, with forecasts suggesting an increase of 0.2 percent on month and a decline of 2.1 percent on year. That follows the 1.0 percent monthly decline and the 2.9 percent annual drop in November.

Taiwan will see January figures for consumer prices; in December, overall inflation was down 0.4 percent on month and up 2.71 percent on year.

Finally, the markets in New Zealand (Waitangi Day) and Taiwan (Lunar New Year) are closed on Tuesday. New Zealand will be back in action on Wednesday, while Taiwan is shuttered until Feb. 15.

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