The Bank of Korea pushed back strongly against the prospect of further cuts in the near term when it lowered interest rates earlier this month. But the weakness of the Q3 GDP figures underlines that it is too early to rule out a 25bps cut at the Bank’s final meeting of the year on 28th November.
Sri Lanka fell into deflation in September, with prices falling by 0.5% y/y. The drop in part reflects the weakness of the economy and supports our view that the central bank will resume its easing cycle at its meeting next month.
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