The Reserve Bank of Australia will on Tuesday release the minutes from its monetary policy meeting on August 7, highlighting a modest day for Asia-Pacific economic activity. At the meeting, the RBA kept its benchmark cash rate unchanged at 3.5 percent for a second consecutive rate-setting meeting - in line with forecasts.
New Zealand will provide July figures for migration and credit card spending, as well as Q3 inflation expectations from the RBNZ. Migration was at 490 in June, while credit card spending was up 0.8 percent on month and 4.6 percent on year in June. Inflation was expected to come in at 2.4 percent in the previous quarter.
Japan will release the results of the June all-industry activity index, plus July figures for department store sales. The activity index is expected to add 0.2 percent on month after falling 0.3 percent in May. Department store sales were down 1.2 percent on year in June, while Department store sales in the Tokyo region eased 0.1 percent.
Singapore will announce Q2 numbers for wholesale sales; in the first quarter, wholesale sales were up 2.3 percent on quarter and down 3.9 percent on year.
Hong Kong will see the inflation rate for July; in June, it was 3.7 percent.
Finally, the stock markets in Indonesia, Malaysia and the Philippines remain closed on Tuesday for Eid-ul-Fitr, the Muslim holiday that marks the end of the holy month of Ramadan. Malaysia and the Philippines are back in action on Wednesday and Indonesia returns on Thursday.
by RTT Staff Writer
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