Analysts at Nomura said the RBA has indicated there is little it can do about near-term inflation readings and continues to believe Australia's rate-hike cycle has ended.
Capital Economics, however, believes there is still room for further tightening as policymakers seek to slow activity sufficiently to bring inflation under control.
South Korea
South Korea is set to release trade data on Wednesday and inflation data on Thursday. The trade-dependent economy is expected to post stronger export growth in June, driven largely by robust semiconductor demand, with the monthly trade surplus forecast to exceed $30 billion for the first time, according to a survey of economists.
The median forecast in a Wall Street Journal poll of nine economists is for exports to rise 57.3% from a year earlier, accelerating from May's revised 53.4% increase.
