New Zealand Rate Decision Due On Wednesday

(RTTNews) - The Reserve Bank of New Zealand will wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The RBNZ is expected to hike its Official Cash Rate by 50 basis points, from 3.00 percent to 3.50 percent.

Australia will see August numbers for retail sales and September results for the services and composite indexes from S&P Global. In July, sales were up 1.3 percent on month, while both index scores in August were 50.2.

Japan will see September figures for its services and composite indexes from Jibun Bank; in August, their scores were 49.5 and 49.4, respectively.

The Philippines will release September data for consumer prices, with forecasts suggesting an increase of 0.4 percent on month and 6.7 percent on year. That follows the 0.4 percent monthly increase and the 6.3 percent yearly gain in August.

South Korea will provide September numbers for consumer prices, with forecasts calling for an increase of 0.4 percent on month and 5.7 percent on year. That follows the 0.1 percent monthly contraction and the 5.7 percent yearly gain in August.

Singapore will release August data for retail sales and September results for its private sector PMI from S&P Global. In July, retail sales were up 0.6 percent on month and 7.86 percent on year, while the index score was 56.0 in August.

Thailand will provide September numbers for consumer prices; in August, overall inflation rose 0.05 percent on month and 7.86 percent on year, while core CPI added an annual 3.15 percent.

Finally, the markets in China remain closed on Wednesday for the National Week holiday; they reopen on Monday.