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RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Monday release the minutes from its September 1 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.

At the meeting, the RBA held the country's benchmark lending rate steady at the record low 0.25 percent but increased the size of the Term Funding Facility. Under the expanded Term Funding Facility, authorized deposit-taking institutions will have access to additional funding, equivalent to 2 percent of their outstanding credit, at a fixed rate of 25 basis points for three years.

Australia also will see Q2 numbers for house prices; in the three months prior, house prices were up 1.6 percent on quarter and 7.4 percent on year.

China will release August figures for industrial production, retail sales, fixed asset investment and unemployment.

Industrial production is tipped to rise 5.1 percent on year, up from 4.8 percent in July. Retail sales are expected to add an annual 0.1 percent after slipping 1.1 percent in the previous month. FAI is expected to sink 0.4 percent on year after losing 1.6 percent a month earlier. The jobless rate in July was 5.7 percent.

Indonesia will provide Q2 numbers for business confidence and August trade data. In the first quarter, the business confidence index had a score of 102.90. In July, imports were down 32.55 percent on year and exports dropped 9.9 percent for a trade surplus of $3.26 billion.

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