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Financial News: New Zealand Interest Rate Decision Due On Wednesday

New Zealand Interest Rate Decision Due On Wednesday

07/09/2024 - 18:04:00 (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 5.50 percent.

China will release June numbers for consumer and producer prices. Overall CPI is expected to by flat on month and rise 0.4 percent on year after dipping 0.1 percent on month and adding 0.3 percent on year in May. Producer prices are expected to sink 0.8 percent on year after slumping 1.4 percent in the previous month.

South Korea will see June figures for unemployment; in May, the jobless rate was 2.8 percent.

Japan will provide June data for producer prices, with forecasts suggesting an increase of 0.4 percent on month and 2.9 percent on year. That follows the 0.7 percent monthly increase and the 2.4 percent yearly gain in May.

Australia will release May figures for building approvals, with forecasts suggesting an increase of 5.5 percent on month following the 0.3 percent contraction in April.

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