MAS on hold, inflation concerns in the Philippines.

The Monetary Authority of Singapore is likely to leave its policy settings unchanged at its meeting on Friday, but with the economy struggling and inflationary pressures falling back, we are expecting policy easing at its following meeting in April. Meanwhile, the further jump in inflation last month in the Philippines has prompted us to revise our interest rate forecasts. We expect the BSP to resume its tightening cycle at its upcoming meeting in November