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Financial News: New Zealand Interest Rate Decision Due On Wednesday

New Zealand Interest Rate Decision Due On Wednesday

05/25/2021 - 18:03:00 (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.

New Zealand also will release April figures for imports, exports and trade balance. In March, imports were worth NZ$5.65 billion and exports were at NZ$5.68 billion for a trade surplus of NZ$33 million.

Australia will see April results for the leading economic index from Westpac and also Q1 numbers for construction work done. The economic index was up 0.38 percent on month in March. Construction work is expected to gain 2.2 percent on quarter after sinking 0.9 percent in the three months prior.

Singapore will provide Q1 numbers for current account; in the previous three months, the current account surplus was SGD19.62 billion.

Japan will release final March figures for its leading and coincident economic indexes; the previous scores were 98.9 and 89.9, respectively.

Finally, the markets in Malaysia, Singapore and Indonesia are closed on Wednesday for Vesak Day - while Thailand is also shuttered for Wisakha Bucha Day. They all return to action on Thursday.

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