Australia Rate Decision Due On 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 modest day for Asia-Pacific economic activity. The RBA is widely expected to hike its benchmark lending rate by 25 basis points, to 4.35 percent from 4.10 percent.

Australia also will see April results for the services and composite PMIs from S&P Global; in March, their scores were 50.3 and 50.1, respectively.

Singapore will release March figures for retail sales; in February, sales were down 4.1 percent on month and up 8.3 percent on year.

Hong Kong will see preliminary Q1 numbers for gross domestic product; in the previous three months, GDP was up 1.0 percent on quarter and 3.8 percent on year.

Indonesia will provide Q1 data for gross domestic product; in the three months prior, GDP was up 0.86 percent on quarter and 5.39 percent on year.

Finally, the markets in South Korea (Children's Day), Japan (Children's Day) and China (Labor Day) are closed on Tuesday.