Financial News: Australia Rate Decision On Tap For Tuesday

Australia Rate Decision On Tap For Tuesday

05/01/2023 - 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 expected to keep its benchmark lending rate unchanged at 3.60 percent.

South Korea will see April figures for consumer prices, with forecasts suggesting an increase of 0.3 percent on month and 3.8 percent on year after adding 0.2 percent on month and 4.2 percent on year in March.

Japan will provide April data for its monetary base, with forecasts suggesting a decline of 1.1 percent on year after slipping 1.2 percent in March.

Hong Kong will release preliminary Q1 numbers for gross domestic product; in the previous three months, GDP was flat on quarter and down 4.2 percent on year.

Indonesia will provide April figures for consumer prices; in March, inflation was up 0.18 percent on month and 4.97 percent on year.

Several of the regional nations will see April results for the respecting Manufacturing PMIs from S&P Global, including Indonesia, Malaysia, the Philippines, South Korea, Taiwan and Thailand.

Finally, the markets in China remain closed for Labor Day; they return to action on Thursday.

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