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Australia Interest Rate Decision Due On Tuesday

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Australia Interest Rate Decision Due On 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 busy day for Asia-Pacific economic activity. The RBA is widely expected to keep its benchmark lending rate unchanged at the record low 0.10 percent.

Australia also will see January figures for building permits, February results for job ads and Q4 data for current account. Permits are tipped to fall 3.0 percent on month after surging10.9 percent in December. Job ads rose 2.3 percent in January. The current account surplus is pegged at A$13.1 billion, up from A$10 billion in Q3.

Japan will release January numbers for unemployment and Q4 figures for capital spending. The jobless rate is tipped to rise to 3.0 percent from 2.9 percent in December, while the job-to-applicant ratio is called steady at 1.06. Capex tumbled 10.6 percent on year in Q3.

South Korea will provide January data for industrial production and retail sales. Industrial output is tipped to rise 1.0 percent on month and 5.3 percent on year after gaining 3.7 percent on month and 3.4 percent on year in December. Retail sales rose 0.2 percent on month and fell 2.0 percent on year in the previous month.

New Zealand will see Q4 numbers for import and export prices and terms of trade. Export prices are called flat on quarter after stumbling 8.3 percent in Q3. Import prices are expected to slip 1.0 percent after sinking 3.7 percent in the previous three months. Terms of trade are called higher by 1.3 percent on quarter after falling 4.7 percent in the three months prior.

The Philippines will provide January figures for producer prices; in December, producer prices were down 2.4 percent on year.

Taiwan and South Korea will see February results for their respective manufacturing PMIs from Markit Economics; in January, their scores were 60.2 and 53.2, respectively.

The material has been provided by InstaForex Company – www.instaforex.com