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Financial News: Australia Rate Decision On Tap For Wednesday

Australia Rate Decision On Tap For Wednesday

07/13/2021 - 18:00:00 (RTTNews)

(RTTNews) - The Reserve Bank of Australia will wrap up its monetary policy meeting on Wednesday 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 of 0.25 percent.

Australia also will see July results for the consumer confidence index from Westpac; in June, the index tumbled 5.2 percent to a score of 107.2.

Singapore will provide an advance estimate for Q2 gross domestic product, with forecasts suggesting an increase of 2.0 percent on quarter and 14.2 percent on year. That follows the 3.1 percent quarterly increase and the 0.2 percent yearly gain in the three months prior.

South Korea will release June figures for unemployment in May, the jobless rate was 3.8 percent.

Japan will see final May figures for industrial production; the previous reading suggested an increase of 2.9 percent on month and 15.8 percent on year, while capacity utilization was up 1.1 percent on month.

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