Central banks in Asia-Pacific set to announce interest rate decisions this week

This week, three central banks in the Asia-Pacific region will announce their interest rate decisions. The Bank of Korea (BOK) and the Reserve Bank of New Zealand (RBNZ) are expected to cut rates, while the Reserve Bank of India (RBI) is likely to maintain its current rate. The BOK is anticipated to reduce its benchmark interest rate from 3.5% to 3.25% on Friday. The RBNZ is expected to lower its rate by 50 basis points to 4.75% on Wednesday. In August, the RBNZ surprised analysts by cutting its policy rate from 5.5% to 5.25%. This week's decisions will reflect ongoing economic conditions in the region.