Australia Rate Decision On Tap For Tuesday
(RTTNews) - The Reserve Bank of Australia will wrap up its monetary policy meeting on Tuesday and the n announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity. The RBA is expected to trim its benchmark lending rate by 25 basis points, to 3.60 percent from 3.85 percent.
Australia also will see June results for the index of business confidence and conditions from NAB; in May, their scores were +2 and 0, respectively.
Taiwan will release June numbers for imports, exports, trade balance and consumer prices. In May, imports were up 25.0 percent on year and exports jumped an annul 38.6 percent for a trade surplus of $12.62 billion. Inflation was down 0.14 percent on month and up 1.55 percent on year.
Japan will provide May figures for current account and June data for bank lending and the eco watchers current index. The current account is expected to show a surplus of $2.940 trillion, up from 2.258 trillion in April.
Overall bank lending is tipped to rise 2.3 percent on year, easing from 2.4 percent in May. The eco watchers index is expected to see a score of 45.2, up from 44.4 in the previous month.
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