The central bank of the Philippines cut its key policy rate by 25 basis points to 3.50 percent, as expected by many economists, as low inflation gave Bangko Sentral ng Pilipinas (BSP) room to strengthen domestic activity while global economic prospects continue face considerable headwinds. BSP described the inflationary environment as “benign,”…
The Central Bank of Sri Lanka kept its benchmark repurchase rate steady at 7.75 percent, as widely expected, as the pace of export growth had slowed moderately while the inflation rate was expected to remain in mid-single digit levels in the medium term. The central bank, which has cut rates twice…
The central bank of Thailand cut its policy rate by 25 basis points to 2.75 percent, surprising financial markets, to shore up domestic demand and counter any drag from the global economy which the Bank of Thailand (BOT) described as weak and fragile. The BOT said its Monetary Policy Committee voted by…
The central bank of Singapore held its policy stance unchanged, saying it’s current level is appropriate in containing inflation and keeping the economy on a sustainable growth path. The Monetary Authority of Singapore (MAS), which targets a “modest and gradual appreciation” of the Singapore dollar against a basket of currencies, said there…
The central bank of Indonesia kept its benchmark BI Rate unchanged at 5.75 percent, as expected, saying inflation was low and under control while the domestic economy continues to grow quite well, though not as fast as earlier expected due to the weaker global growth. Bank Indonesia (BI) said the economy was…
The central bank of South Korea cut its base rate by a further 25 basis points to 2.75 percent, a move that was expected, with the bank expecting global growth to remain weak and the country’s economic output to remain below potential for a considerable time. The Bank of Korea (BOK), which…
The central bank of Pakistan cut its policy rate by another 50 basis points to 10.0 percent, a move that was expected by economists, due to an improved outlook for inflation. The State Bank of Pakistan (SBP), which also cut its policy rate by 150 basis points in August, for a total of reduction…
The Bank of Japan (BOJ) held interest rates unchanged and maintained the size of its Asset Purchase Program, as expected, saying the country’s economy was currently leveling off but should return to moderate growth, helped by firm domestic demand and a gradual improvement in overseas economies. The BOJ, which last month expanded…