RBA Minutes On Tap For Tuesday

(RTTNews) - The Reserve Bank of Australia will on Tuesday release the minutes from its March 7 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.

At the meeting, the central bank held its benchmark lending rate steady at 1.50 percent as expected, after reducing the rate by 25-basis points each in August and May.

Australia also will see Q4 numbers for house prices, with forecasts suggesting an increase of 2.5 percent on quarter and 6.3 percent on year. That follows the 1.5 percent quarterly increase and the 3.5 percent yearly gain in the third quarter.

New Zealand will provide February figures for credit card spending; in January, spending was up 0.2 percent on month and 7.1 percent on year.

Hong Kong will release February data for consumer prices; in January, inflation was up 1.3 percent on year.

Finally, the markets in Japan are off Tuesday for the vernal equinox, and will re-open on Wednesday.