Data published earlier this week confirmed that Singapore’s economy contracted in the first quarter of the year. And with inflationary pressures very low, we expect the central bank to loosen policy further this year, including at its next meeting in July. Meanwhile, Sri Lanka’s central bank cut rates again this week by a further 25bps, bringing total easing this cycle to 775bps. With the level of GDP still well below pre-crisis levels and inflation in negative territory, further rate cuts are likely in the months ahead.
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