Australia Rate Decision On Tap For Tuesday
(RTTNews) - The Reserve Bank of Australia will wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The RBA is expected to keep its benchmark lending rate unchanged at 4.10 percent.
Australia also will see August figures for building approvals and home loans. Approvals are expected to rise 3.3 percent on month and sink 6.4 percent on year after slumping 8.1 percent on month and 18.0 percent on year in July. Home loans were down 2.3 percent on month in July.
Japan will provide September numbers for its monetary base, with forecasts suggesting an increase of 1.6 percent on year - up from 1.1 percent in August.
Finally, the markets in China remain closed for the week for the National Day holiday and will resume trade on Oct. 9. South Korea also is shuttered for an extended Chuseok Festival and will be back in action on Wednesday.
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