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Cambodia: Shopping boost in Kingdom as New Zealand set to raise rates as Covid concerns ease
Shopping in Cambodia is increasing but attention will be focused on the region’s central banks this week for signs that an easing in Coronavirus-related lockdowns and hopes of economic recovery are leading them to consider tightening monetary policy.
The Reserve Bank of New Zealand (RBNZ) is expected to raise its benchmark interest rate by 25 basis points to 0.5 percent. It would be the first hike since the RBNZ cut rates to record lows last year. The bank will announce its October monetary policy on Wednesday.
Australia’s central bank is likely to leave rates on hold after a tough Covid lockdown cut consumption and raised unemployment. The Reserve Bank of Australia’s cash rate is currently 0.1 percent. The RBA is also likely to continue its bond-buying programme. It will make the announcement tomorrow.
On Friday the Reserve Bank of India announces its monthly policy. Forecasters say it will keep the repo rate at 4 percent. Consumer spending and investment are picking up after the country eased lockdowns that were imposed when the Delta variant swept across the country but the RBI is likely to leave policy loose to allow further growth.
Inflation is not looking like a major threat in the Asia-Pacific region. South Korean data out on Wednesday will probably show the consumer price index eased to a year on year rise of 2.3 percent last month, according to Moody’s Analytics. CPI rose 2.6 percent in August.
Source: https://www.khmertimeskh.com/50946666/shopping-boost-in-kingdom-as-new-zealand-set-to-raise-rates-as-covid-concerns-ease/