It will support the economy through its effect on the exchange rate, lowering the cost of finance and boosting disposable incomes. In turn, this will support employment growth and inflation consistent with the target. It would, however, be unrealistic to expect that lowering interest rates by ¼ of a percentage point will materially shift the path we look to be on.
At the end of 2014, ASEAN (at $ trillion GDP) was just smaller than France and the United Kingdom but larger than Brazil, Russia and India.1 The expectation, however, is that ASEAN will continue to outpace the rest of the world.