CANBERA (dpa-AFX) - Australia is scheduled to see a raft of economic data on Tuesday, highlighting a modest day for Asia-Pacific economic activity. On tap is an interest rate decision from the Reserve Bank of Australia, as well as Q3 current account figures and October building approval data.
The RBA is widely expected to trim interest rates by 25 basis points, from 3.25 percent to 3.00 percent - particularly since the central bank does not meet in January. The current account is expected to show a deficit of A$14.550 billion following the A$11.801 billion shortfall in the second quarter. Building approvals are forecast to fall 1.6 percent on month and 20.2 percent on year after rising 7.8 percent on month and 12.4 percent on year in September.
Japan will provide October figures for labor cash earnings and November numbers for monetary base. Labor cash earnings were flat on year in September, while the monetary base climbed an annual 10.8 percent in October.
New Zealand will announce commodity price figures for November; in October, prices were up 1.3 percent.
Copyright RTT News/dpa-AFX