The Bank of Korea looks almost certain to leave interest rates unchanged at its meeting on Thursday. But with inflation falling and concerns about the economy mounting, we expect the central bank to strike a more dovish tone than at previous meetings.
Meanwhile, inflation in the Philippines fell back again in December and is now within the BSP’s 2-4% target for the first time in nearly two years. The drop in inflation reinforces our view that rate cuts are coming soon. We have pencilled in a cut for April.
Finally, the first of seven key elections in the region takes place this weekend, with Bangladesh set to go to the polls on Sunday.
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