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Financial News: New Zealand Interest Rate Decision On Tap For

New Zealand Interest Rate Decision On Tap For Wednesday

09/22/2020 - 18:00:00 (RTTNews)

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

The central bank in Thailand also will conclude its monetary policy meeting and then announce its decision on interest rates; the bank is widely expected to keep its benchmark lending rate steady at 0.50 percent.

Singapore will provide August figures for consumer prices; in July, overall inflation was down 0.3 percent on month and 0.4 percent on year, while core CPI also sank an annual 0.4 percent.

Japan will see July results for its all-industry activity index and September figures for the manufacturing, services and composite PMIs from Jibun Bank.

In June, the all-industry index climbed 6.1 percent on month. In August, the manufacturing PMI had a score of 47.3, while services was at 45.0 and the composite showed 45.2.

Taiwan will release August numbers for industrial production and retail sales. In July, industrial production was up 2.65 percent on year and retail sales gained an annual 2.5 percent.

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