New Zealand Rate Decision On Tap For 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 trim its Official Cash Rate (OCR) by 25 basis points, to 3.00 percent from 3.25 percent.
Japan will release June figures for core machinery orders and July data for imports, exports and trade balance. Machine orders are expected to slip 0.4 percent on month and rise 5.0 percent on year after falling 0.6 percent on month and gaining 4.4 percent on year in May.
Imports are expected to tumbled 10.4 percent on year after adding 0.2 percent in June. Exports are called lower by an annual 2.1 percent after slipping 0.5 percent in the previous month. The trade surplus is pegged at 196.2 billion yen, up from 153.1 billion yen a month earlier.
The central bank in Indonesia will conclude its monetary policy meeting and announce its decision on interest rates. Its benchmark lending rate (5.25 percent), deposit facility rate (4.50 percent) and lending facility rate (6.00 percent) are all expected to remain unchanged.
Taiwan will see July numbers for export orders and Q2 data for current account. In June, export orders jumped 24.6 percent on year, while the current account surplus was $30.23 billion in Q1.
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