New Zealand Rate Decision On Tap For 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 trim its Official Cash Rate by 25 basis points, to 2.75 percent from 3.00 percent.

Australia will provide August numbers for building approvals, with forecasts suggesting a decline of 6.0 percent on month following the 8.2 percent decline in July.

Japan will see August figures for current account and September data for bank lending and the eco watchers survey. The current account is expected to show a surplus of 3.540 trillion yen, up from 2.684 trillion yen in July. Overall bank lending is seen higher by an annual 3.7 percent, up from 3.6 percent in August. The eco watchers survey is tipped to show a score of 47.0, up from 46.7 a month earlier.

The central bank on Thailand will wrap up its monetary policy meeting and then announce its decision on interest rates; the bank is expected to keep its benchmark lending rate steady at 1.50 percent.

Taiwan will see September figures for consumer prices; in August, overall inflation was up 0.12 percent on month and 1.6 percent on year.

Finally, the markets in South Korea and China remain closed for Chuseok and the Mid-Autumn Festival, respectively.