Emerging Europe Economics Update CBR signals further tightening to tackle inflation Russia’s central bank (CBR) hiked its policy rate by 50bp, to 5.00%, at today’s meeting and the accompanying statement strengthened the central bank’s hawkish message about the need for additional... 23rd April 2021 · 3 mins read
India Economics Weekly How damaging will be the new restrictions be? With the economic damage from last year’s lockdown still fresh in the memory, there appears to be little appetite for a return to extreme measures to curb the ongoing outbreak. But given the very... 23rd April 2021 · 4 mins read
India Economics Update MPC minutes suggest policy tightening a long way off The minutes of the Reserve Bank’s April policy meeting – in which interest rates were left unchanged – show that the MPC is committed to keeping policy accommodative to support the economic recovery... 23rd April 2021 · 2 mins read
India Chart Pack Virus restrictions start to bite Our in-house mobility tracker suggests that the surge in virus infections in India is now weighing on activity. This is likely to become more pronounced as the outbreak has become more widespread... 21st April 2021 · 10 mins read
Asia Economics Update No room for further rate cuts in Indonesia Bank Indonesia (BI) left interest rates unchanged at 3.5% today, and despite the downbeat outlook for the economy we see little room for further rate cuts this year. 20th April 2021 · 2 mins read
China Economics Update LPR unchanged as PBOC relies on other policy tools Commercial banks left the Loan Prime Rate (LPR) on hold today. Given that official efforts to rein in credit are being achieved by other means, we do not expect any changes to policy rates in the... 20th April 2021 · 2 mins read
Bank of Japan Watch Bank preparing for prolonged hold After tweaking a range of policy measures in March, the Bank of Japan will keep policy settings unchanged in April. By addressing the side effects of ultra-loose policy, the Bank has set the stage for... 20th April 2021 · 8 mins read
Australia & New Zealand Economics Weekly Financial stability risks to come back onto the radar The RBA is sticking to its upbeat assessment of Australian households’ financial resilience. But if credit growth picks up and lending standards slip, we think APRA may intervene before long. We now... 16th April 2021 · 5 mins read
Emerging Europe Economics Update CBRT opening the door to rate cuts The decision by the Turkish central bank (CBRT) to leave its policy rate at 19.00% was accompanied by reassuring language that the MPC, under new governor Sahap Kavciouglu, aims to bring down... 15th April 2021 · 3 mins read
India Data Response India Wholesale Prices (Mar. 2021) The faster-than-anticipated acceleration in headline wholesale price inflation in March was driven by a surge in fuel inflation, but we think it should fall back soon enough. And with the recent jump... 15th April 2021 · 2 mins read
Australia & New Zealand Economic Outlook Tighter monetary policy on the horizon The speed of the vaccination rollout has been disappointing and brief, localised lockdowns have set back the recovery in both countries. But vaccine supply should improve over the coming months which... 15th April 2021 · 16 mins read
Asia Economics Update Bank of Korea unlikely to alter policy this year The Bank of Korea (BoK) left its main policy rate on hold at 0.50% today and given that the recovery still has some way to go, the BoK is likely to leave policy accommodative for the rest of 2021. 15th April 2021 · 3 mins read
Australia & New Zealand Economics Update RBNZ will hike rates in 2022 The Reserve Bank of New Zealand (RBNZ) stuck to its dovish stance when it left policy settings unchanged today, but we still expect the Bank to raise rates towards the end of next year. 14th April 2021 · 3 mins read
Asia Economics Update Singapore: monetary policy to remain on hold in 2021 The Monetary Authority of Singapore (MAS) left policy on hold today as advanced Q1 GDP data showed the economy rebounded further. While GDP is set to continue recovering at a decent pace, a persistent... 14th April 2021 · 3 mins read
China Data Response China Bank Lending & Broad Credit (Mar.) After an uptick in February, the slowdown in credit growth resumed in March. Hawkish signals in the government’s work report suggest that the deceleration will continue as policymakers focus on... 12th April 2021 · 2 mins read
Latin America Economics Weekly Peru & Ecuador votes, Banxico’s doves, rising virus cases Voters head to the polls in Peru and Ecuador on Sunday which could lead to a populist shift in both countries. In the former, political risks may have a growing adverse impact on the economy and... 9th April 2021 · 5 mins read
