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Financial News: New Zealand Rate Decision On Tap For Wednesday

New Zealand Rate Decision On Tap For Wednesday

05/12/2020 - 18:00:00 (RTTNews)

(RTTNews) - The Reserve Bank of New Zealand will wrap up its monetary policy meeting on Wednesday and then announce its monetary policy decision, highlighting a modest day for Asia-Pacific economic activity. The RBNZ is expected to keep its Official Cash Rate unchanged at 0.25 percent.

Japan will release March numbers for current account and April figures for bank lending. The current account is expected to show a surplus of 2,210.6 billion yen, down from 3,168 billion yen in February. Bank lending in March was up 2.0 percent on year.

South Korea will see unemployment figures for March; in February, the jobless rate was 2.0 percent.

Australia will see May results for the consumer confidence index from Westpac Bank and Q1 numbers for wage prices. In April, the consumer confidence index score sank 17.7 percent to a reading of 75.6. Wage prices are tipped to add 0.5 percent n quarter and 2.1 percent on year after adding 0.5 percent on quarter and 2.2 percent on year in the three months prior.

Malaysia will release Q1 numbers for GDP and current account. In the previous three months, GDP was up 0.6 percent on quarter and 3.6 percent on year, while the current account surplus was 7.64 billion ringgit.

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