In Southeast Asia, bubble worries grow.

 Economists are increasingly concerned about excessive credit growth in Southeast Asia. Following several IMF warnings, calls are getting louder for central banks in the region to rein in accommodative policies. "If central banks don't normalize fast … we could get an over extension of the credit cycle," HSBC's chief economist for the region told CNBC. Echoing the point, Credit Suisse's head of India and SE Asia economics said "authorities in the Philippines, Thailand, and Malaysia are in significant danger" of keeping policies "too loose, for too long," as relatively low inflation seems to have lulled policy makers to sleep.