A Reserve Bank of Australia (RBA) meeting is likely to be one of the highlights for Asian markets this week, with the central bank expected to hold its fire a month after cutting interest rates to a record low.
Chinese economic data could take the spotlight at the end of the week as markets assess the outlook for the world’s second biggest economy, while Japan’s Prime Minister Shinzo Abe is tipped to unveil a closely-watched proposal to deliver long-term economic growth.
The RBA meets on Tuesday and its interest rate decision is expected at 0430 GMT. The central bank cut rates by 25 basis points to 2.75 percent last month and analysts say that a sharp weakening in the Australian dollar, which boosts exporters, is a strong reason why not to expect a rate cut this month.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.