Australia Rate Decision On Tap For Tuesday

(RTTNews) - The Reserve Bank of Australia will on Tuesday wrap up its monetary policy meeting and then announce its decision on interest rates, setting the pace for another busy day in Asia-Pacific economic activity.

The RBA is widely expected to keep its benchmark interest rate on hold at 2.50 percent.

Australia also will see October figures for building approvals and Q3 numbers for current account.

Building approvals are expected to gain 5.0 percent on month but fall 6.0 percent on year. That follows the 11.0 percent monthly decline and the 13.4 percent yearly contraction in September. The current account is expected to show a deficit of A$13.5 billion after posting a shortfall of A$13.7 billion in Q2.

South Korea will provide consumer price figures for November, with analysts expecting a decline of 0.1 percent on month and an increase of 1.1 percent on year. That follows the 0.3 percent monthly decline and the 1.2 percent gain in October.

Japan will see October data for labor cash earnings and November numbers for monetary base. Cash earnings are expected to add 0.8 percent after rising 0.7 percent in September. The monetary base surged 36.9 percent on year in October.

New Zealand will release commodity price figures for November; in October, prices dipped 0.8 percent.