Australia Rate Decision 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 widely expected to hike its benchmark lending rate by 25 basis points, from 2.85 percent to 3.10 percent.

Australia also will see Q3 figures for current account, with forecasts suggesting a surplus of A$10.5 billion - down sharply from A$18.3 billion in the three months prior.

Japan will release October data for household spending, with expectations for an increase of 1.5 percent on month and 1.0 percent on year - down from 1.8 percent on month and 2.3 percent on year in September.

Taiwan will see November numbers for consumer prices; in October, overall inflation was up 0.12 percent on month and 2.72 percent on year, while wholesale prices spiked an annual 11.09 percent.

Thailand will provide November data for consumer prices. Overall inflation is expected to rise 5.85 percent on year, slowing from 5.98 percent in October. Core CPI is tipped to rise to 3.2 percent from 3.17 percent in the previous month.

The Philippines will provide November figures for consumer prices, with forecasts suggesting an increase of 0.95 percent on month and 7.8 percent on year in October.