MALAYSIA’s central bank raised its overnight policy rate (OPR) by 25 basis points to 2.75 per cent on Thursday (Nov 3) in its fourth hike this year – a move that was expected by economists – to “pre-emptively manage the risk of excessive demand on price pressures”, said Bank Negara in its statement. The decision […]
Read MoreThe Thai economy will face more challenges next year amid global uncertainties, but its recovery remains on track, according to a Bank of Thailand (BoT) executive. Thailand’s economy is posting a gradual recovery, as forecast by the BoT. The bank predicted GDP growth of 3.3% this year and 3.8% next year. For 2023, the Thai […]
Read MoreBENGALURU, Nov 3 (Reuters) – Indonesia’s economy grew at its fastest pace in over a year last quarter, buoyed by strong exports and consumption, but a slowdown in China and a widely expected global recession pose significant risks, a Reuters poll found. Southeast Asia’s largest economy has been enjoying an export boom for more than […]
Read MoreTHE Philippine central bank will increase its benchmark interest rate by 75 basis points at its Nov 17 meeting to match the Federal Reserve hike, governor Felipe Medalla said on Thursday (Nov 3). The increase in the overnight reverse repurchase rate from the current 4.25 per cent will take effect after the scheduled meeting in […]
Read MoreSINGAPORE – Asian markets followed Wall Street southwards after Federal Reserve chairman Jerome Powell dashed hopes of an immediate pivot on the US central bank’s aggressive monetary policy. In Singapore, the Straits Times Index (STI), which had recently regained its foothold above the key 3,000 support level, kicked off 34 points or 1 per cent […]
Read MoreThe Regional Comprehensive Economic Partnership (RCEP) is an important mechanism to safeguard the rules-based multilateral free trade system against the trends of anti-globalization and protectionism, Cambodian Prime Minister Hun Sen said on Wednesday. Addressing a high-level forum on the RCEP here, Hun Sen said the rise in protectionism is undermining globalization and rules-based multilateralism momentum. […]
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