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Financial News: Australia Interest Rate Decision Due On Tuesday

Australia Interest Rate Decision Due On Tuesday

04/05/2021 - 18:00:00 (RTTNews)

(RTTNews) - The Reserve Bank of Australia is scheduled to 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 the record low 0.10 percent.

China will see March results for the services and composite PMIs from Caixin; in February, their scores were 51.5 and 51.7, respectively.

Australia will release March job advertisement data from ANZ; in February, job ads were up 7.2 percent on month.

The Philippines will provide March consumer price figures. In February, overall inflation was up 0.2 percent on month and 4.7 percent on year, while core CPI rose an annual 3.5 percent.

Japan will see February numbers for household spending and average cash earnings. Spending is tipped to add 2.8 percent on month and fall 5.3 percent on year after sinking 7.3 percent on month and 6.1 percent on year in January. Average cash earnings were down 0.8 percent on year in January.

Singapore will see March results for its private sector PMI from Markit Economics; in February, the index score was 54.9.

Finally, the markets in Hong Kong and Thailand are closed on Tuesday in observance of Easter and Chakri Day, respectively.

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