03.08.202022:00:00UTC+00Australia Rate Decision On Tap For Tuesday

The Reserve Bank of Australia will wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity.

The RBA is widely expected to keep its benchmark lending rate at the record low of 0.25 percent.

Australia will also release June figures for imports, exports, trade balance and retail sales. In May, imports were down 6.0 percent on month, while exports fell 4.0 percent for a trade surplus of A$8.025 billion. Retail sales are expected to rise 2.4 percent on month after spiking 16.9 percent in May.

South Korea will see July numbers for consumer prices, with forecasts calling for an increase of 0.1 percent on month and 0.35 percent on year. That follows the 0.2 percent monthly increase and the flat annual reading in June.

Japan will provide July numbers for Tokyo-area consumer prices, which are considered a leading indicator for the nationwide trend. In June, Tokyo overall inflation gained 0.3 percent on year and core CPI rose 0.2 percent.