Asia Round Up - Singapore Slips Into Recession; Indian Central Bank In Bigger CRR Cut

- Friday, activity remained hectic in Asia at the end of the week and gloomier data were released from some key economies in the region. Members of the Bank of Japan's policy board felt last month that the nation's economic recovery could be delayed by slumping exports stemming from the growing trouble in global financial markets. The BoJ released minutes from the September 17-18 policy board meeting. At the meeting, the board voted unanimously to keep its benchmark interest rate at 0.5%. While members expressed confidence that the economy was likely to return to a "growth path," some felt "the possibility that it might do so later than expected should be borne in mind." The broad measure of liquidity in Japan climbed 0.6% on year in September, the Bank of Japan said in a report, standing at 1,430 trillion yen. That follows a... [read full story]