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Tighter fiscal policy in Malaysia , BoK on hold again

Malaysia’s budget for 2024, which was unveiled in parliament today, envisages a modest tightening of fiscal policy. Tighter policy will weigh on an economy which is already being hit hard by the slump in exports and higher interest rates, and supports our view that growth will remain weak next year. Meanwhile, despite a recent jump in inflation, the Bank of Korea is likely to keep interest rates unchanged at its meeting on Thursday.

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