China is likely to offer higher yields at open-market operations and hike required reserve ratios through April to drain liquidity. Meanwhile, Japan will keep its policy rate and asset-purchase program unchanged in March amid core deflation and improved industrial production. A slowdown in food prices likely reduced India’s inflation temporarily in February. The same month, Singapore's y/y exports slowed due to China’s Lunar New Year shutdowns.
The People’s Bank of China Is Back in the Open Market
On March 10, the People’s Bank of China (PBoC) sold RMB32[...]