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Falling fertility rates in Korea; BSP on hold

The fertility rate in Korea fell to a record low of just 0.7 births per woman in the third quarter of this year – the lowest in the world. The country’s dreadful demographic outlook is the key reason we are downbeat on the country’s long-run prospects.

Meanwhile, the sharp drop in inflation in the Philippines last month supports our view that the BSP’s tightening cycle is over and that the central bank will leave interest rates unchanged at its scheduled meeting on Thursday.

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