23 October 2025 Emerging Asia Monitor A surprise hold, but BI isn't done; we still see a cut to 4.50% by year-end

BI surprised again, but with a rate hold this time; we’re sticking to our end-2025 call of 4.50%.
Malaysian inflation increased again, the third rise since the expansion of the sales and services tax.
India’s full core IP data for Q3 show a solid bounce, but the GDP signal remains subdued.

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