New Zealand Interest Rate Decision Due On Wednesday
(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 busy day for Asia-Pacific economic activity. The RBNZ is expected to hold its Official Cash Rate steady at 3.25 percent.
Australia will release May figures for building approvals, with forecasts suggesting an increase of 3.2 percent on month and 8.0 percent on year following the 4.1 percent monthly decline and the 12.0 percent yearly gain in April.
Japan will see June numbers for its M2 money stock, with forecasts suggesting an increase of 0.2 percent on year - easing from 0.6 percent in May.
China will provide June data for consumer and producer prices. Overall inflation is expected to slip 0.1 percent on year for the second straight month, while producer prices are expected to fall an annual 3.2 percent after slipping 3.3 percent a month earlier.
Indonesia will see May numbers for retail sales; in April, sales were down 0.3 percent on year.
The central bank in Malaysia will conclude its monetary policy meeting and announce its decision on interest rates; the bank is expected to keep its benchmark lending rate steady at 3.00 percent.
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