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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 expected to hike its benchmark lending rate by 50 basis points, from 2.35 percent to 2.85 percent.

Australia also will see August figures for building permits and home loans. In July, building permits were down 17.2 percent on month and 25.9 percent on year, while home loans fell 7.0 percent on month.

Japan will see September numbers for Tokyo consumer prices; in August, overall inflation was up 2.9 percent on year and core CPI rose an annual 2.6 percent.

South Korea will see September results for the manufacturing PMI from S&P Global; in August, the index score was 47.6.

Finally, the markets in Hong Kong and China are closed on Tuesday in observance of National Day. Hong Kong will return to action on Wednesday, while the markets in China are shuttered all week and will reopen on Oct. 10.

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