Central banks in New Zealand, India, Thailand, and the Philippines review monetary policy

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Thailand Monetary Policy Decision (Wednesday)The Bank of Thailand (BOT) is likely to keep monetary policy conditions stable, due to rising inflation and a large fiscal push from the government, according to a Barclays Global Economics Weekly note. The BOT unanimously kept its benchmark interest rate unchanged at 1.5 percent at its previous meeting, while signalling increasing downside risks to the economy. The RBI last kept policy unchanged at a six-year low in December, with the benchmark repo rate at 6.25 percent. Markets will be watching for the outcome from the first monetary policy meetings of the year from India, Thailand, the Philippines and New Zealand in a busy week with the Reserve Bank of Australia holding rates at a record low of 1.5 percent on Tuesday as expected. India Monetary Policy Decision (Wednesday)The Indian economy has been suffering from the shock of a massive demonetization program, where the government recalled existing 500 ($7.35) and 1,000 ($14.70) rupee notes and replaced them with newly printed notes in a bid to fight counterfeit cash and corruption.

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