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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 modest day for Asia-Pacific economic activity. The RBA is widely expected to keep its benchmark lending rate steady at 0.1 percent.

Australia also will see June results for the inflation forecast from TD Securities and the Melbourne Institute. In May, the forecast called for a decline of 0.2 percent on month.

Japan will release May figures for household spending, with forecasts suggesting a decline of 3.7 percent on month and a gain of 10.9 percent on year. That follows the 0.1 percent monthly increase and the 13.0 percent annual spike in April.

Taiwan will see unemployment numbers for May; in April, the jobless rate was 3.71 percent.

Hong Kong will see June results for the private sector PMI from Markit Economics; in May, the PMI score was 52.5.

The Philippines will provide April numbers for retail prices and June figures for consumer prices. In March, retail prices were up 1.8 percent on year. In May, overall inflation was up 0.1 percent on month and 4.5 percent on year, while core CPI rose 3.3 percent on year.

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