6 March 2026 Emerging Asia Monitor BNM maintains rates but is holding its breath on the Middle East

BNM held rates at 2.75%, as expected, but its statement carried an unusually cautious tone.
Singapore’s January retail sales were weaker than expected, but highly distorted by Lunar New Year.
We raise our 2026 CPI call for the Philippines and cut that on Thailand; the difference is fuel policy.

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