News Column

Australia Rate Decision On Tap For Tuesday

August 4, 2014

CANBERA (Alliance News) - The Reserve Bank of Australia will on Tuesday conclude its monetary policy meeting 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 on hold at 2.50%.

Australia also will see June trade data and July results for the AiG Performance of Service Index. The trade balance is expected to show a deficit of AUD2.00 billion after posting a shortfall of AUD1.922 billion in May. The service index saw a score of 47.6 in June.

China will see July results for its services and composite indexes from HSBC; in June, they were at 53.1 and 52.4, respectively.

Japan will see July numbers for the service and composite indexes from Markit Economics; in June, they were at 49.0 and 50.0, respectively.

Hong Kong will provide July numbers for its manufacturing PMI from Markit Economics; in June, the index was at 50.1.

The Philippines will release consumer inflation for July and producer price data for June. In June, CPI was up 0.4% on month and 4.4% on year. In May, PPI was down 1.1% on month and 1.0% on year.

Indonesia will announce gross domestic product figures for the second quarter of 2014; in Q1, GDP was up 0.95% on quarter and 5.21% on year.

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Source: Alliance News

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