RBA Minutes On Tap For Tuesday

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its July 6 meeting, headlining a modest day for Asia-Pacific economic activity.

At the meeting, the bank decided to leave its cash rate unchanged at a record low of 0.10 percent, as widely expected. It also scaled back its quantitative easing program citing stronger-than-expected economic recovery and suggested that interest rates will remain at the current level until 2024.

Japan will release inflation data for June; in May, overall inflation was up 0.3 percent on month and down 0.1 percent on year, while core CPI was up 0.1 percent on year.

Taiwan will release June numbers for export orders, with forecasts suggesting a surge of 29.45 percent on year – slowing from 34.5 percent in May.

China will see July prime rate figures for its one-year and five-year loans; in June, the rates were 3.85 percent and 4.65 percent, respectively.

Hong Kong will see unemployment data for June; in May, the jobless rate was 6.0 percent.

Finally, the markets in Malaysia, Singapore and Indonesia are closed on Tuesday for the Eid-ul-Adha; they will re-open on Wednesday.