The poor recent performance of manufacturing in Singapore increases the chance that the Monetary Authority of Singapore (MAS) will loosen policy aggressively at its meeting next month.
Meanwhile, in the Philippines, with inflation dropping back sharply and GDP growth very weak, the central bank (BSP) is now in full-on easing mode. Having cut interest rates by 25bp at its scheduled monetary policy meeting on Thursday, the BSP today announced plans to reduce the reserve requirement ratio (RRR) by a further 100 basis points.
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