Financial News: Australia Interest Rate Decision Due On Tuesday

Australia Interest Rate Decision Due On Tuesday

11/04/2024 - 17:31:00 (RTTNews)

(RTTNews) - The Reserve Bank of Australia will 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 steady at 4.35 percent.

South Korea will provide October figures for consumer prices, with forecasts suggesting an increase of 0.2 percent on month and 1.4 percent on year. That follows the 0.1 percent monthly increase and the 1.6 percent yearly gain in September.

The Bank of Japan will see October numbers for its monetary base, with forecasts calling for an increase of 0.3 percent on year following the 0.1 percent contraction in September.

China will see October results for the services PMI from Caixin, with analysts expecting a score of 50.5 - up from 50.3 in September.

Indonesia will release Q3 data for its gross domestic product, with expectations for an increase of 1.6 percent on quarter and 5.0 percent on year - easing from 3.79 percent on quarter and 5.05 percent on year in the three months prior.

Thailand will provide October numbers for consumer prices. Overall inflation is expected to rise 0.96 percent on year, up from 0.61 percent in September. Core CPI is seen higher by an annual 0.78 percent, up marginally from 0.77 percent a month earlier.

Singapore will see September figures for retail sales; In August, sales were up 0.7 percent on month and 0.6 percent on year.

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