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Financial News: New Zealand Rate Decision Due On Wednesday

New Zealand Rate Decision Due On Wednesday

08/11/2020 - 18:01:00 (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 the record low 0.25 percent.

South Korea will provide unemployment data for July, with forecasts putting the jobless rate at 3.9 percent - down from 4.3 percent in June.

Australia will see July figures for new home sales, August numbers the Westpac consumer confidence index and Q2 data for wage prices. In June, new home sales were up 87.2 percent on month. In July, the consumer confidence index fell 6.1 percent to a score of 87.9. In Q1, wage prices gained 0.5 percent on quarter and 2.1 percent on year.

Japan will provide July figures for machine tool orders; in June, orders plunged 32.0 percent on year.

China will see July numbers for vehicles sales and FDI; in June, vehicle sales rose 11.6 percent on year and FDI fell 1.3 percent.

Finally, the markets in Thailand are closed on Wednesday in observance of the queen's birthday and will re-open on Thursday.

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