HSBC 9 月 18 日长篇英文报告，38页。
　　Perhaps you were surprised，but HSBC’s Chief ASEAN economist Joseph Incalcaterrawasn’t：Bank Indonesia cut interest rates last month.He doesn’t think the centralbank will so again this week，however.Still，it still has room to ease again but probablyonly in the second quarter of next year.India，too，cut rates，but that seems to be it fornow：inflation ticked up in August by a full percentage point.Malaysia’s punchy GDPprint for the second quarter（5.8% y-o-y，up from 5.6%），meanwhile，revived talk of apossible rate hike by BNM，but that seem to us unlikely：headline CPI slid to 3.2% y-o-yin July，and the August print，out this week，should come in lower still.