The RBA is expected to hold rates at 4.35%, but investors will be watching the language used in the monetary policy statement.
The RBA is expected to hold rates at 4.35%, but investors will be watching the language used in its monetary policy statement.A pedestrian and jogger pass the Reserve Bank of Australia building, during a partial lockdown imposed due to the coronavirus, in Sydney, Australia, on Monday, May 18, 2020.Asia-Pacific markets rebounded on Tuesday as Wall Street surged overnight, with investors awaiting the Reserve Bank of Australia's interest rate decision.
The RBA is expected to hold rates at 4.35%, but investors will be watching the language used in its monetary policy statement. In a preview note, ING stated that "inflation more broadly is heading in the wrong direction, and that inflation is broadly based." Australia's headline inflation crept up to 3.8% in April, from a low of 3.4% in December 2023.
"Above all, we need to see month-on-month inflation rising at a significantly slower pace, or inflation is going to veer further off course over the second half of the year," the analysts add.rose 0.84% after plunging almost 2% on Monday, while the Topix was 0.64% higher.climbed 0.9%, led by gains in chipmakers Samsung Electronics and SK Hynix, which rose about 1.5% and 4%, respectively.Hong Kongrose to close at a fresh record as Wall Street looked to build on last week's gains.
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Asia-Pacific markets are set to rebound after S&P 500 hits new highs; Australia rate decision on tapThe RBA is expected to hold rates at 4.35%, but investors will be watching the language used in the monetary policy statement.
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