# Gaps — inflation & policy rates SEA

## Intentional empties (policy_rate)

| ISO3 | Why empty |
|------|-----------|
| **SGP** | MAS is **exchange-rate centred** (S$NEER). Do **not** substitute SORA / overnight rates as a fake “policy rate”. |
| **VNM** | No BIS WS_CBPOL series; secondary bank notes (e.g. refinancing 4.50%) not locked from `sbv.gov.vn` in this pack. |
| **KHM** | No BIS series; NBC does not publish a single BI-style policy rate comparable in WS_CBPOL. |
| **LAO** | BoL base policy rate reported in press but not in BIS extract; no primary table locked here. |
| **MMR** | No BIS series; conflict-era uncertainty — leave empty. |
| **BRN** | Currency linked to SGD; no standalone BIS policy-rate series. |
| **TLS** | USD dollarised; no domestic policy rate. |

`real_policy_rate` is empty wherever `policy_rate` is empty.

## Vintage / series caveats

- **Do not mix** WEO 2026 projection bars with WDI/WEO 2025 without **year badges**.
- **Myanmar WDI** latest is **2019** (8.83%) while WEO shows **22%** (2025) / **19%** (2026) — use WEO for the inflation board; treat WDI MMR as a stale footnote, not a peer bar.
- **WEO vs WDI** can differ slightly even for the same year (methodology / timing); both are citeable if labelled.
- **real_policy_rate** uses `policy_rate` (Aug 2026) − WEO **2026** CPI projection — an approximate ex-ante stance, **not** a market real yield.

## Framework chip notes

- `inflation_targeting`: IDN, MYS, PHL, THA  
- `exchange_rate_centred`: SGP (and BRN via SGD link)  
- `other`: KHM, LAO, MMR, VNM, TLS  

Chips are labels for Designer — never average them with rates or CPI.

## Completeness

- CPI WEO 2025 + 2026: **11/11**  
- CPI WDI latest: **11/11** (MMR vintage 2019)  
- Policy rates locked: **4/11** (ID, MY, PH, TH)  
- Framework chips: **11/11**