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RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its monetary policy meeting on August 2, setting the pace for a light day in Asia-Pacific economic activity.

At the meeting, the central bank decided to lift the cash rate target by 50 basis points to 1.85 percent, the highest level since April 2016. The bank has raised the benchmark rate by a cumulative 175 basis points over the last four consecutive meetings. The bank also increased the interest rate on Exchange Settlement balances by 50 basis points to 1.75 percent.

Japan will see June results for its tertiary industry index; in May, the index rose 0.8 percent on month.

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