Australia, Japan Rate Decisions On Tap For Tuesday
(RTTNews) - The Reserve Bank of Australia will wrap up its monetary policy meeting on Tuesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The RBA is expected to keep its benchmark lending rate steady at 4.35 percent.
The Bank of Japan will also conclude its monetary policy meeting and announce its decision on rates; the BoJ is expected to hike its benchmark lending rate by 25 basis points, to 1.00 percent from 0.75 percent.
China will release May numbers for industrial production, retail sales, fixed asset investment, house prices and unemployment. Industrial production is expected to rise 4.3 percent on year, up from 4.1 percent in April. Sales are seen lower by an annual 0.2 percent after rising 0.2 percent in the previous month.
Investment is expected to drop 2.3 percent on year after slumping 1.6 percent a month earlier. House prices fell 3.5 percent on year in April, while the jobless rate is expected to hold steady at 5.2 percent.
Hong Kong will provide May data for unemployment; in April, the jobless rate was 3.7 percent.
Finally, the markets in Indonesia are closed on Tuesday for the Islamic New Year and will re-open on Wednesday.
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