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Financial News: New Zealand Rate Decision On Tap For Wednesday

New Zealand Rate Decision On Tap For Wednesday

08/17/2021 - 18:00:00 (RTTNews)

(RTTNews) - The Reserve Bank of New Zealand is scheduled to wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity.

The RBNZ is expected to hike is Official Cash Rate by 25 basis points, from 0.25 percent to 0.50 percent.

New Zealand also will release Q2 figures for producer prices; in the previous three months, inputs were up 2.1 percent on quarter and outputs rose 1.2 percent.

Japan will provide June numbers for core machine orders and July figures for imports, exports and trade balance.

Core machine orders are tipped to fall 2.8 percent on month and jump 15.8 percent on year after rising 7.8 percent on month and 12.2 percent on year in May.

Imports are expected to spike 35.1 percent on year, up from 32.7 percent in June. Exports are tipped to climb an annual 39.0 percent, down from 48.6 percent in the previous month. The trade surplus is called at 202.3 billion yen, down from 383.2 billion yen a month earlier.

Australia will release Q2 figures for wage prices and also see July results for the leading economic index from Westpac.

Wage prices are expected to add 0.6 percent on quarter and 1,9 percent on year after gaining 1.5 percent on quarter and 0.6 percent on year. The leading index was down 0.7 percent on month in June.

Hong Kong will provide unemployment figures for July; in June, the jobless rate was 5.5 percent.

Indonesia will release July numbers for imports, exports and trade balance. Imports are tipped to surge 52.15 percent on year, slowing from 60.12 percent in June. Exports are called higher by an annual 30.2 percent, moderating from 54.46 percent in the previous month. The trade surplus is pegged at $2.27 billion, up from $1.32 billion a month earlier.

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