Climate Economics Update Solar take-up in Saudi will be felt in global oil markets The renewable rollout in Saudi Arabia is set to accelerate on the back of cheap solar panel imports from China. Given that Saudi Arabia is one of a few countries that directly burns crude oil for... 5th February 2025 · 3 mins read
Capital Daily Tariffs are just one threat of many to China’s markets Tariffs could continue to be a big challenge to China’s renminbi and stock market, but we think both could have a tough year regardless of how trade tensions play out. 5th February 2025 · 4 mins read
Japan Economics Update Japan’s rice inflation will plunge this year The largest increase in rice prices on record has provided a sizeable boost to inflation in recent months but we expect rice inflation to slow sharply this year. While our forecast is a 0.6%-pt... 5th February 2025 · 3 mins read
Australia & New Zealand Rapid Response New Zealand Labour Market (Q4 2024) 4th February 2025 · 2 mins read
Capital Daily A few observations from the market reaction to tariffs While we expect the US to start a trade war this year, we doubt that the initial reaction to the tariffs on Monday will necessarily set the tone for 2025. 4th February 2025 · 5 mins read
Global Economics Update Is this the start of a major central bank divergence? We held an online Drop-In session last week to discuss the outlook for interest rates in major advanced economies as the Fed hit the pause button while the ECB cut again. (See a recording here .) The... 4th February 2025 · 7 mins read
Japan Rapid Response Japan Labour Cash Earnings (December 24) Regular earnings growth will hold strong at just under 3% for most of this year Growth in base pay rose the most since 1992 in December, and we think it will continue to hold strong in this year... 4th February 2025 · 2 mins read
China Rapid Response China retaliates, risking further tariff escalation After initially promising unspecified "countermeasures", the Chinese authorities have now fleshed out their retaliation to the Trump administration's 10% tariff hike on all US imports from China. The... 4th February 2025 · 2 mins read
China Economics Update China gets off lightly on tariffs, for now The additional 10% tariff that Donald Trump has applied on Chinese goods will have a relatively modest impact on China’s economy, especially if the PBOC allows the renminbi to adjust. But this is... 3rd February 2025 · 8 mins read
Asia Economics Update Asia January PMIs, Korea Trade The January PMIs for Asia were generally weak, supporting our view that manufacturing activity and GDP growth in the region are likely to remain below trend in the near term. And with inflation back... 3rd February 2025 · 3 mins read
Australia & New Zealand Economics Update Rate cuts not a panacea for Australia’s housing market Australia’s housing slowdown continued into the new year, as demand softened further. Although the prospect of imminent rate cuts could temporarily buoy buyer sentiment, we don’t expect a meaningful... 3rd February 2025 · 3 mins read
Australia & New Zealand Rapid Response Australia Retail Sales (Dec./Q4 2024) 3rd February 2025 · 2 mins read
US Economics Update Trump hits Canada, China and Mexico with tariffs President Donald Trump’s decision to impose 25% tariffs on Canada and Mexico and an additional 10% tariff on China from this coming Tuesday, (with the only partial exemption for Canadian energy... 2nd February 2025 · 4 mins read
India Economics Update India’s Union Budget to provide limited growth boost Tax breaks included in India’s FY25/26 Union Budget announcement should provide some support to household consumption but, overall, the measures fall some way short of constituting major stimulus... 1st February 2025 · 3 mins read
