Pakistan's central bank cut its benchmark interest rate by 100 basis points to 12% on Monday, in line with expectations, as inflation eases and growth looks to set to pick up after 1,000 basis points of rate cuts over the last six months.

Turkey’s central bank has lowered its key interest rate by 2.5 percentage points to 45%. The decision on Thursday marked the second rate cut in a row and came as inflation slowed.

India's central bank announced on Monday a host of measures to inject liquidity into the banking system, including bond purchases and dollar/rupee swaps, which analysts and traders said could be a precursor to a rate cut next month.

The Philippine peso is veering toward an all-time low as the nation’s central bank plans to cut interest rates further in the face of slowing economic growth.