Australia Rate Decision On Tap For Tuesday
(RTTNews) - The Reserve Bank of Australia will wrap up its monetary policy meeting on Tuesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The RBA is expected to hike its benchmark lending rate by 25 basis points, to 4,35 percent from 4.10 percent.
Japan will provide September data for household spending, with forecasts suggesting a decline of 0.4 percent on month and 2.7 percent on year after rising 3.9 percent on month and falling 2.5 percent on year in August.
Malaysia will see September numbers for industrial production, with forecasts suggesting a decline of 0.2 percent on year after easing 0.3 percent in August.
Taiwan will provide October figures for imports, exports and consumer prices. In September, imports were down 12.2 percent on year and exports rose an annual 3.4 percent for a trade surplus of$10.32 billion. Overall inflation was up 2.93 percent on year.
China will release October data for imports, exports and trade balance. Imports are expected to slip 5.4 percent on year after dropping 6.2 percent in September. Exports are called lower by an annual 3.1 percent after sinking 6.2 percent in the previous month. The trade surplus of pegged at $81.95 billion, up from $77.71 billion a month earlier.
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