RBA minutes due Tuesday amid a light Asia-Pacific data calendar

what happened

According to Newsmetry API, the Reserve Bank of Australia will publish the minutes of its September 29 Monetary Policy Board meeting on Tuesday. The release is among the main events on a light day for economic activity across the Asia-Pacific region.

At the September meeting, the RBA raised its benchmark interest rate by a quarter-point to 4.60%, as expected, citing upside risks to inflation. Australia will also release September results from National Australia Bank surveys covering business confidence and conditions. Their August readings were -8 and -1, respectively.

Japan is scheduled to report September figures for bank lending and producer prices. Lending is expected to have increased 5.5% year on year, compared with 5.4% in August. Producer prices are forecast to rise 0.5% month on month and 7.6% year on year, following a 0.2% monthly decline and a 7.6% annual increase in August.

Thailand’s markets will be closed on Tuesday for King Bhumibol Memorial Day and will reopen on Wednesday.

why it matters

The RBA minutes may provide more detail on the decision to lift rates to 4.60% and the bank’s inflation-risk assessment. Japan’s figures will offer updates on lending and producer-price trends.

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