This article first appeared in The Edge Malaysia Weekly on November 2, 2026 - November 8, 2026

The main event for the week ahead locally is Bank Negara Malaysia’s policy decision on Thursday (Nov 5). Eight of nine economists polled expect the overnight policy rate (OPR) to stay at 2.75%. UOB economists Julia Goh and Jasrine Koke expect a 25-basis-point (bp) hike to 3%, citing the policy guidance shift in September, stronger-than-expected 3Q2026 advance gross domestic product (GDP) and the expansionary Budget 2027, which includes a higher minimum wage, more cash assistance and tax relief.

On Monday, the S&P Global Malaysia Manufacturing PMI for October will be released. In September, the index fell below the neutral 50.0 mark for the first time in four months, down from 50.2 in August.

In the local courts, former human resources minister Datuk Seri M Saravanan’s graft case will see the handing over of additional documents and the setting of trial dates. In late August, the MIC deputy president was charged with allegedly receiving over RM1 million in bribes for approving 1,000 foreign workers for TYKB Engineering Sdn Bhd in 2022. He claimed trial for all three charges.

On Nov 5, the Federal Court will hear Muar Member of Parliament Syed Saddiq Syed Abdul Rahman’s appeal on whether the courts can adjudicate on policy matters, specifically on funds already earmarked for parliamentary constituencies.

Deepavali falls on Sunday (Nov 8), with the public holiday observed on Monday for both Malaysia and Singapore. India likewise celebrates Diwali on Nov 8 while the Philippines observes All Saints’ Day on Nov 1 and Philippine markets will close on Nov 8 for the All Souls’ Day holiday.

In Singapore, the official October Purchasing Managers’ Index (PMI) will be available on Nov 2 while the S&P Global Singapore PMI and the mid-week Certificate of Entitlement auction are both scheduled for release on Nov 4. September retail sales will be out on Nov 5, with Bloomberg estimates putting growth at 1.2% year on year (y-o-y) against 0.7% in August. Official reserves data for October could also be released between Nov 2 and Nov 10. The Singapore parliament will be sitting on Nov 3. Across the rest of Asia, Opec+ meets on Nov 1 to set December output and South Korea’s October trade data is due the same day, with the surplus estimated at 

US$36.2 billion compared with US$49.9 billion in September. The Reserve Bank of Australia (RBA) decides its monetary policy on Nov 3. According to a Bloomberg survey, 12 out of 15 economists expect a 25bps hike to 4.85%.

Hong Kong’s 3Q GDP is also due on Nov 3, with Bloomberg estimates putting growth at 3.5% y-o-y and UOB estimating an increase of 3% y-o-y, down from 4.3% y-o-y in 2Q. On Nov 5, Indonesia reports its 3Q GDP, with Bloomberg estimating 5.17% y-o-y growth while UOB estimates put it at 5.1% y-o-y compared with 5.29% in 2Q. The October Consumer Price Index (CPI) releases through the week include Indonesia (Nov 2), South Korea and Vietnam (Nov 3), and the Philippines, Thailand and Taiwan (Nov 5).

In the US, the midterm elections on Nov 3 put all 435 House seats and 35 Senate seats on the ballot. About 140 S&P 500 companies will be reporting earnings during the week and the Treasury will be announcing its quarterly refunding for 4Q2026 on Nov 2. Data starts with the ISM manufacturing PMI on Nov 2 — with Bloomberg estimating it will come in at 54.7 compared with 54.5 in September — followed by the US trade balance for September on Nov 4 while the October Labor Market Report will be released on Nov 6.

Over in Europe, Sweden’s Riksbank decides on its primary policy rate on Nov 4 and a Bloomberg survey shows all four analysts expect a 25bp hike to 2%. The eurozone’s preliminary CPI for October is due the same day.

On Nov 5, the Bank of England (BOE) is expected to raise rates by 25bps to 4% in November, with all eight analysts polled anticipating the hike. UOB economist Lee Sue Ann also expects a rate increase, noting that the UK CPI growth accelerated faster than expected at 3.5% y-o-y in September compared with 3.1% in August, driven by higher fuel prices while core goods and services inflation suggests price pressures are becoming more persistent, reinforcing the BOE’s concerns over inflation staying above target longer. On the same day, Norway’s Norges Bank is expected to hold the key rate at 4.50% while industrial production data from Germany and retail sales from Spain and the eurozone are due on Nov 6.

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