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Australia Rate Decision On Tap For Tuesday

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 central bank is widely expected to keep its benchmark lending rate unchanged at 1.50 percent.

Australia also will see October numbers for retail sales, November results for the Performance of Service Index from AiG and Q3 figures for current account.

Retail sales are expected to add 0.3 percent on month following the flat reading in September, while the service PMI had a score of 51.4 in October. The current account is expected to show a deficit of A$8.7 billion, up from the A$9.6 billion shortfall in the second quarter.

China will see November results for the services and composite PMIs from Caixin; in October, their scores were 51.2 and 51.0, respectively.

Japan will see November numbers for the services and composite PMIs from Nikkei; in October, both indexes came in with a score of 53.4.

New Zealand will see November results for the commodity price index from ANZ Bank; in October, the index slipped 0.3 percent on month.

Hong Kong and Singapore will see November results for their respective business PMIs from Nikkei; in October, their scores were 50.3 and 54.2, respectively.

South Korea will release October numbers for current account; in September, the current account surplus was $10.07 billion.

Finally, the markets in Thailand will be closed on Tuesday in memorial of the birthday of late King Bhumibol. They will re-open on Wednesday.

by RTT Staff Writer

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