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.

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.

Pakistan's central bank cut its key policy rate by 100 basis points to 12% on Monday, the governor told reporters, for a sixth straight reduction since June as the country attempts to revive business and economic sentiment amid easing inflation.

The central bank reduced its one-week repo rate to 45% from 47.5% as a cycle of higher borrowing costs bore fruit in cooler price rises.