Morning Minutes: What will make headlines, Nov 23, 2016

The Sri Siva Durga Temple in Potong Pasir, before redevelopment, in 2005.
The Sri Siva Durga Temple in Potong Pasir, before redevelopment, in 2005.PHOTO: ST FILE

Good morning! Morning Minutes is a round-up of stories that will break on Wednesday (Nov 23) and which we think you'd be interested in.

It appears on weekdays, available by 7am.

SRI SIVA DURGA TEMPLE COMPLETES REDEVELOPMENT

Redevelopment and refurbishment work has been completed at the Sri Siva Durga Temple in Potong Pasir.

The temple management has included elderly-friendly features such as ramps and non-slip floors, and sculptors from South India were specially flown in to create new statues. A consecration ceremony will be held on Dec 4.

SINGAPORE INFLATION RATES TO BE RELEASED


In September, Singapore's consumer price index posted its smallest fall since December 2014, down 0.2 per cent. PHOTO: REUTERS 

Singapore’s inflation reading for October will bear close scrutiny when it is released today. In September, the consumer price index posted its smallest fall since December 2014, down 0.2 per cent.

Although it was the 23rd straight month of sliding consumer prices, economists reckon Singapore’s longest spell of negative inflation in decades is nearing an end.

MALAYSIA CENTRAL BANK TO HOLD POLICY MEETING


Malaysia’s central bank, Bank Negara Malaysia, is expected to leave its benchmark rate unchanged. PHOTO: REUTERS

Malaysia’s central bank is expected to leave its benchmark rate unchanged today, at its first policy meeting since Donald Trump’s win in the US presidential election battered the ringgit.

Bank Negara Malaysia cut its overnight policy rate by 25 basis points to 3.00 per cent in July, and some analysts earlier expected another trim this year to try to boost weakening domestic demand.

But the tumble in the ringgit since Mr Trump’s win ensures no cut on Wednesday, they say.

The ringgit has shed more than 5 per cent since his victory, hitting a 13-month low of 4.435 on Tuesday.

RULING ON APPEALS BY FORMER KHMER ROUGE LEADERS


Tourists view the remains of victims who died during the Khmer Rouge regime at the Choeung Ek Genocidal Center, on the outskirts of Phnom Penh on Nov 22, 2016. PHOTO: EPA 

A UN-backed court in Cambodia will on Wednesday (Nov 23) pronounce its ruling on appeals by two former leaders of the Khmer Rouge regime sentenced to life in prison for their role in crimes against humanity during their 1975-79 rule.

Approximately US$260 million (S$370 million) has been spent by the Khmer Rouge Tribunal on cases against former leaders of the regime since 2006.

But till date, only one official has received a life sentence for his crimes, which included overseeing the deaths of more than 12,000 people, according to media reports. 

US FEDERAL RESERVE TO RELEASE MEETING MINUTES


US Federal Reserve Board chair Janet Yellen. Minutes of the Federal Reserve’s November policy meeting are likely to confirm that officials were creeping closer to their first interest-rate increase in a year before the Nov 8 election. PHOTO: REUTERS 

Minutes of the Federal Reserve’s November policy meeting are likely to confirm that officials were creeping closer to their first interest-rate increase in a year before the Nov 8 election, and developments since have only served to bolster the case for a hike.

The record of the Nov 1-2 meeting, during which policymakers left the federal funds rate target in a range of 0.25 per cent to 0.5 per cent, is scheduled to be released at 2pm today in Washington.

Inflation was firming and the job market continued to post gains in the run-up to the meeting, but the US presidential election loomed as a potential risk.