Asia Economics Update Growth in the Philippines likely to remain above-trend Q1 GDP for the Philippines, published today, showed that the economy continued to expand despite a significant fall in government spending. The big picture is that domestic demand remains robust... 30th May 2011 · 1 min read
Asia Economics Update Thailand’s strong growth to bring more policy tightening Today’s Q1 GDP data for Thailand show that the economy grew at a faster q/q pace at the start of this year, as expected. Growth in the coming quarters should be supported by strengthening domestic... 23rd May 2011 · 1 min read
Asia Economics Update Pakistan’s central bank looking for fiscal reforms to deliver In a move that was widely anticipated, the State Bank of Pakistan (SBP) left its policy rate unchanged at 14.0% over the weekend. The upcoming FY2011-12 budget and subsequent fiscal developments will... 23rd May 2011 · 1 min read
Asia Economics Update New Zealand set for a prolonged fiscal tightening Despite 2011 being an election year, New Zealand’s government today announced a budget with few giveaways. The aim to move back into a surplus by 2014-15 will be tough to achieve, especially if... 19th May 2011 · 1 min read
Asia Economics Update Malaysia set for above-trend growth Malaysia’s economy grew at a slightly slower pace at the start of the year, which surprised the consensus but was in-line with our view. Strengthening domestic demand should mean that growth picks up... 18th May 2011 · 1 min read
Asia Economics Update Latest data keeps pressure on Reserve Bank of India Headline inflation fell slightly in April but is likely to rise again in the coming few months. Meanwhile, indicators of activity suggest economic growth in India is still rapid. The upshot is that we... 16th May 2011 · 1 min read
Asia Economics Update Sri Lanka's central bank biding its time The Central Bank of Sri Lanka (CBSL) left its interest rates unchanged today, as was widely anticipated. Nonetheless, policy settings were tightened in April and more rate hikes look only a matter of... 16th May 2011 · 1 min read
Asia Economics Update Korea's central bank has more work to do The Bank of Korea (BoK) unexpectedly held its policy rate at 3.0% today. Nonetheless, GDP growth has picked up to an above-trend pace, while core inflation looks set to climb further. We still believe... 13th May 2011 · 1 min read
Asia Economics Update Bank Indonesia policy rates to rise soon Today’s decision by Bank Indonesia (BI) to hold its reference rate steady at 6.75% was anticipated given recent downside surprises in headline inflation. However, core inflation continues to climb... 12th May 2011 · 1 min read
Asia Economics Update Australia still targeting a quick return to budget surplus Despite recent natural disasters, Australia’s government stuck to its aim of moving back into a surplus by 2012-13 in today’s federal budget. The goal is likely to be achieved given the prospect of... 10th May 2011 · 1 min read
Asia Economics Update Bank Negara Malaysia set to tighten further Today’s 25bp policy rate hike by Bank Negara Malaysia (BNM) surprised the consensus, which expected no change, but was in line with our forecast. We expect further tightening to 3.5% by the end of the... 5th May 2011 · 1 min read
Asia Economics Update More rate hikes to come in the Philippines The Philippines’ central bank (BSP) raised its policy rate by 25bp to 4.5% today, as expected. Core inflation has been trending upwards and is likely to continue doing so, while economic growth looks... 5th May 2011 · 1 min read
Asia Economics Update Indonesia set for strong growth this year Today’s Q1 GDP data were slightly weaker than the consensus had expected, but underlying growth momentum remains resilient. We still believe that price pressures rather than any concern over growth... 5th May 2011 · 1 min read
Asia Economics Update Australia's monetary tightening on course to resume this year The Reserve Bank of Australia (RBA) held its cash rate at 4.75% today, as expected. Nonetheless, core inflation rose in Q1 while above-trend GDP growth looks likely over 2011-12. The upshot is that we... 3rd May 2011 · 1 min read
Asia Economics Update Reserve Bank of India accelerates rate hikes The Reserve Bank of India surprised the markets with a 50bp hike to the repo rate to 7.25% today, whereas both we and the consensus had expected 25bp. The accompanying annual Monetary Policy Statement... 3rd May 2011 · 1 min read
Asia Economics Update Reserve Bank of India accelerates rate hikes The Reserve Bank of India surprised the markets with a 50bp hike to the repo rate to 7.25% today, whereas both we and the consensus had expected 25bp. The accompanying annual Monetary Policy Statement... 3rd May 2011 · 1 min read
