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Financial News: New Zealand Rate Decision On Tap For Wednesday

New Zealand Rate Decision On Tap For Wednesday

10/05/2021 - 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, headlining a busy day for Asia-Pacific economic activity. The RBNZ is expected to hike its benchmark lending rate by 25 basis points, from 0.25 percent to 0.50 percent.

South Korea will release September figures for consumer prices, with forecasts suggesting an increase of 0.25 percent on month and 2.25 percent on year. That's down from 0.6 percent on month and 2.6 percent on year in August.

Taiwan will provide September numbers for consumer and wholesale prices. In August, Inflation was up 0.31 percent on month and 2.36 percent on year, while wholesale prices spiked an annual 11.88 percent.

Hong Kong will see September results for its private sector PMI from Markit Economics, with forecasts suggesting a score of 52.3 - down from 53.3 in August.

Australia will see the September inflation forecast from TD Securities and the Melbourne Institute; in August, inflation was pegged at 0.5 percent higher on month.

Finally, the markets in China remain closed for the National Day holiday; they return to action on Friday.

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