Many analysts see room for further monetary easing, but probably only later in the year.
ING's economics team noted that policymakers have sought to maintain ample liquidity and sees a solid chance of a rate cut within the quarter.
Another consideration is the rise in energy and commodity prices, DBS economists said. That, together with continued resilience in exports and industrial production, suggests the central bank can maintain a measured monetary-policy approach while relying on targeted fiscal support to bolster growth.
Australia / New Zealand
The main events Down Under next week are the release of New Zealand's second-quarter inflation data on Tuesday and Australia's June employment figures on Thursday.
