2020.07.0622:00:00UTC+00Australia Rate Decision On Tap For Tuesday

The Reserve Bank of Australia will wrap up its monetary policy meeting on Tuesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The RBA is widely expected to keep its benchmark lending rate unchanged at the record low 0.25 percent.

Australia will also see June results for the Performance of Services Index from AiG; in May, the index score was 31.6.

South Korea will provide May figures for current account; in April, the current account deficit was $3.12 billion.

Japan will release May numbers for household spending and its leading and coincident indexes. Household spending is expected to rise 1.8 percent on month and tumble 12.2 percent on year after sinking 6.2 percent on month and 11.1 percent on year. In April, the leading index score was 77.7 and the coincident was at 80.1.

The Philippines will see June data for consumer prices; in May, overall inflation was up 0.1 percent on month and 2.1 percent on year, while core CPI jumped an annual 2.9 percent.

Taiwan will provide June numbers for inflation, imports, exports and trade balance. In May, inflation was down 0.12 percent on month and 1.19 percent on year and wholesale prices plunged an annual 11.6 percent.

Imports are expected to sink 5.25 percent on year after falling 3.5 percent in May. Exports are called lower by an annual 3.0 percent after slipping 2.0 percent in the previous month. The trade surplus is pegged at $4 billion, down from $4.72 billion a month earlier.