Asia Economics Update Further rate cuts coming in the Philippines The central bank in the Philippines (BSP) cut interest rates by 25bp today, and further interest rate cuts seem only a matter of time. Given the subdued outlook for inflation and the dovish nature of... 9th May 2019 · 1 min read
Asia Economics Update Bank of Thailand to leave rates on hold this year Despite the downbeat outlook for Thailand’s economy, the central bank (BoT) left interest rates unchanged at its meeting today. Continued concerns over risks in the financial sector mean that it is... 8th May 2019 · 1 min read
Asia Economics Update Another cut likely in Malaysia before year-end With economic growth likely to remain weak throughout 2019, today’s 25bps rate cut by the central bank in Malaysia (BNM) is likely to be followed by further easing later in the year. 7th May 2019 · 1 min read
Asia Economics Update Is the worst now over for Korean exporters? The rebound in Korean exports in April, which was mainly due to a further recovery in demand for semi-conductors, supports our view that the worst is now over for the export sector and the broader... 1st May 2019 · 1 min read
Asia Economics Update Indonesia: rates to be left unchanged this year Bank Indonesia (BI) left rates unchanged at 6.0% at its meeting today and there was little indication in the statement that it is likely to adjust monetary policy anytime soon. We expect rates to... 25th April 2019 · 1 min read
Asia Economics Update Sri Lanka: the economic impact of the attacks The deadly terrorist attacks that took place across Sri Lanka on Easter Sunday are first and foremost a human tragedy, but are also likely to have severe economic consequences. A big drop in tourist... 23rd April 2019 · 1 min read
Asia Economics Update Weak export growth looks set to continue The most recent trade data, including the very weak outturn in Korean exports over the first 20 days of this month, suggest that regional trade remains in the doldrums. With the external sector facing... 22nd April 2019 · 1 min read
Asia Economics Update Bank of Korea’s next move to be a cut The Bank of Korea (BoK) left interest rates unchanged at 1.75% today. But, while it sounded less upbeat on the economy, we still think the BoK is too optimistic on the outlook for growth. With growth... 18th April 2019 · 1 min read
Asia Economics Update Indonesia: Jokowi will struggle to revive economy The two key economic challenges facing President Joko Widodo in his second term are boosting GDP growth and reducing Indonesia’s external vulnerabilities. We don’t think he will succeed in either. 17th April 2019 · 1 min read
Asia Economics Update Singapore: weak growth to prompt loosening from MAS The Monetary Authority of Singapore (MAS) today left its policy settings unchanged, but given the worsening outlook for the economy, we think it will loosen policy at its next meeting in October. 12th April 2019 · 1 min read
Asia Economics Update Pakistan hikes rates, further tightening to come The State Bank of Pakistan (SBP) today raised its policy rate by a further 50bp to 10.75%, and we think further rate hikes are likely over the coming months due to worries about high inflation and the... 29th March 2019 · 1 min read
Asia Economics Update Thai election result is bad news for the economy Thailand looks set for a period of political and economic uncertainty after the military and the main opposition party claimed victory in yesterday’s general election. The inconclusive result... 25th March 2019 · 1 min read
Asia Economics Update Indonesia: no more tightening, but cuts unlikely Bank Indonesia (BI) left rates unchanged at 6.0% at its meeting today, and there was little indication in the statement that it is likely to adjust monetary policy anytime soon. We expect rates to... 21st March 2019 · 1 min read
Asia Economics Update Taiwan’s central bank to keep policy on hold Taiwan’s central bank (CBC) decided to keep its policy rate unchanged today at 1.375% against a backdrop of weak economic growth and low inflation, and gave no indication in its statement that it will... 21st March 2019 · 1 min read
Asia Economics Update Philippines: rate cut still likely in May The central bank of the Philippines (BSP) left rates unchanged today at Governor Diokno’s first meeting, but also sounded more hawkish than we had anticipated. Nevertheless, with inflation set to fall... 21st March 2019 · 1 min read
Asia Economics Update Bank of Thailand to leave rates unchanged this year The Bank of Thailand (BoT) left interest rates on hold today but sounded decidedly more dovish than at its previous meeting. While weak growth and low inflation will take hikes off the table, the BoT... 20th March 2019 · 1 min read
