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RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its June 4 meeting, highlighting a modest day for Asia-Pacific economic activity.

At the meeting, the RBA reduced its key interest rate by a quarter point from 1.50 percent to an historic low of 1.25 percent as policymakers aim to bring inflation to target. It was the first reduction since August 2016.

Australia also will see Q1 numbers for house prices, with forecasts suggesting a decline of 2.6 percent on quarter and 6.9 percent on year. That follows the 2.4 percent quarterly drop and the 5.1 percent annual decline in the three months prior.

New Zealand will see Q2 figures for the consumer confidence index from Westpac; in the previous three months, the index score was 103.8.

China will provide May numbers for new home prices; in April, prices were up 0.62 percent on month.

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