We are maintaining our full-year 2005 GDP estimate at 4.8 percent, which implies an improvement in the fourth quarter to 5.1 percent.

Continuous strength in the electronics sector will drive growth in NODX in December.

It's a respectable number for the wrong reasons. It's still oil that's driving imports whilst electronics, which are the No.1 export, are still down. We will surely see some slowdown in exports.

They want to help pre-empt a build-up in inflationary pressures, which is likely to follow after the fuel price increase. They are now being more proactive rather than reacting to the situation.

There is significant saving on interest payments because of lower interest rates.

The hike in pump prices, and electricity and gas tariffs that have also been raised, fed through to overall consumer prices. Given that the MAS expects a higher pass-through from oil, and for inflation to be higher even in 2006, the current policy stance will remain appropriate.