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Financial News: Australia Rate Decision On Tap For Tuesday

Australia Rate Decision On Tap For Tuesday

05/04/2020 - 18:00:00 (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 busy day for Asia-Pacific economic activity. The RBA is widely expected to keep its benchmark lending rate unchanged at 0.25 percent.

Australia also will see March results for the Performance of Construction Index from the Australian Industry Group; in February, the index score was 37.9.

The central bank in Malaysia also will conclude its monetary policy meeting and reveal its decision on interest rates; the bank is widely expected to keep its benchmark lending rate steady at 2.50 percent.

Indonesia will see Q1 data for gross domestic product, with forecasts suggesting a decline of 1.27 percent on quarter and an increase of 4.04 percent on year. That follows the 1.74 percent quarterly drop and the 5.02 percent yearly gain in the three months prior.

Hong Kong will release March figures for retail sales; in February, retail sales plummeted 44.0 percent on year.

Singapore will provide February figures for retail sales; in January, sales were down 8.9 percent on month and 8.5 percent on year.

Thailand will see April numbers for consumer and producer prices; in March, overall inflation was down 0.86 percent on month and 0.54 percent on year, while core CPI was flat on month and down 0.50 percent on year. Producer prices lost 1.2 percent on month and 1.6 percent on year.

Thailand also will see April results for the manufacturing PMI from IHS Marketing; in March, the index score was 46.7.

New Zealand will release March figures for building permits; in February, permits were down 4.7 percent on month.

The Philippines will provide March numbers for industrial production and consumer prices. In February, industrial output sank 1.8 percent on year, while consumer prices were down 0.1 percent on month and up 2.5 percent on year.

Finally, the markets in China, South Korea and Japan are closed on Tuesday for Labor Day, Children's Day and Accession Day, respectively.

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