Asian shares subdued, RBA rate Decision Awaited

Asian shares edged lower in early trading on Tuesday, taking their cues from a modestly lower day on Wall Street as US crude oil prices slid. The Reserve Bank of Australia's policy board will decide on Tuesday whether rates should be left at 1.75 percent or trimmed a quarter point to a new record low, with most analysts predicting the need to combat low inflation and a rising currency will win the argument for more stimulus. Not all commentators, however, are convinced the RBA will announce a rate cut when its decision is made public at 0430

 "The majority of economists surveyed expect the RBA to cut interest rates by 25 basis points but we feel that a rate cut is not a done deal," wrote Kathy Lien, managing director of FX strategy for BK Asset Management. She noted that since the last RBA meeting in July, manufacturing activity and consumer prices had increased, full time job growth had rebounded, and business confidence had improved.

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