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Financial News: New Zealand Interest Rate Decision Due On Wednesday

New Zealand Interest Rate Decision Due On Wednesday

02/23/2021 - 17:30:00 (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 modest day for Asia-Pacific economic activity. The RBNZ is widely expected to keep its Official Cash Rate unchanged at 0.25 percent.

Australia will release Q4 figures for wage prices, with forecasts suggesting an increase of 0.3 percent on quarter and 1.1 percent on year following the 0.1 percent quarterly increase and the 1.4 percent yearly gain in the three months prior. Construction work done is expected to rise 1.0 percent on quarter after sinking 2.6 percent in Q3.

Taiwan will provide January figures for export orders, retail sales and industrial production. Export orders are expected to surge 44.5 percent on year after jumping 38.3 percent in December. Retail sales were up 1.39 percent on year in December and industrial output rose an annual 9.9 percent.

Hong Kong will see final Q4 numbers for gross domestic product, with forecasts suggesting an increase of 0.2 percent on quarter and a decline of 3.0 percent on year. That follows the 2.7 percent quarterly increase and the 3.6 percent yearly decline in Q3.

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