RBA Minutes On Tap For Tuesday

(RTTNews) - The Reserve Bank of Australia will on Tuesday release the minutes from its July 8 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.

At the meeting, the RBA maintained its benchmark lending rate at 3.85 percent, defying expectations for a quarter-point rate cut. The current rate was the lowest in two years. Previously, the bank had reduced the rate by 25 basis points in May and February.

New Zealand will provide June figures for imports, exports and trade balance. In May, imports were worth NA$6.44 billion and exports were at NZ$7.68 billion for a trade surplus of NZ$1.235 billion.

Malaysia will see June data for consumer prices; in May, overall inflation was up 0.1 percent on month and 1.2 percent on year.

Taiwan will release June numbers for unemployment and export orders; in May, the jobless rate was 3.34 percent and export orders jumped an annual 18.5 percent.