Japan Data Response Japan Labour Cash Earnings (Sep. 22) The 2.1% rise in labour cash earnings in September was the fastest since 1997 but it was mostly driven by volatile bonus payments and won’t be sustained. However, regular earnings growth remained... 8th November 2022 · 3 mins read
Capital Daily We think optimism around China’s COVID policy is misplaced The recent rally in assets and currencies linked to the prospects of China’s economy on hopes that the authorities in China will relax their “zero-COVID” policy is unlikely to last. 7th November 2022 · 5 mins read
Australia & New Zealand Chart Pack Monetary policy will be loosened next year With inflation surprising to the upside in Q3, the Reserve Bank of Australia was forced to revise up its near-term forecasts for inflation in its latest Statement on Monetary Policy. What’s more, the... 7th November 2022 · 12 mins read
Asia Data Response Indonesia (Q3 GDP) Economic growth in Indonesia accelerated in the third quarter, but this is likely to be as good as it gets. We expect lower commodity prices, tighter monetary policy and elevated inflation to drag on... 7th November 2022 · 2 mins read
China Data Response China Trade (Oct.) China’s export volumes dropped back sharply in October, due to a deterioration in global economic conditions and a reversal in pandemic-related demand. We expect exports to weaken further over the... 7th November 2022 · 3 mins read
Asia Economics Weekly Problems for Korean corporates piling up Yields on commercial paper in Korea have continued to rise over the past week despite aggressive intervention by the authorities as they struggle to calm the markets. But even if the situation... 4th November 2022 · 8 mins read
India Economics Weekly Electronics exports are booming India’s exports of electronics remain small, but they have doubled in value over the past couple of years. This is further evidence of a shift into areas of manufacturing that have the potential to... 4th November 2022 · 5 mins read
China Economics Weekly What to make of the reopening rumours Rumours about an imminent move away from zero-COVID have lifted Chinese markets this week but there is no concrete evidence yet of a shift. And even if officials are now drawing up an exit strategy... 4th November 2022 · 9 mins read
Japan Economics Weekly Strength in business investment won’t be sustained We’re revising up our estimate of Q3 business investment as capital goods shipments surged and firms plan to spend the most on research and development in years. However, with a global manufacturing... 4th November 2022 · 5 mins read
Australia & New Zealand Economics Weekly Hawkish RBA will continue to tighten well into 2023 The RBA didn’t respond to the upside surprise in Q3 inflation with a renewed 50bp hike this week as some had anticipated. But by revising up its inflation forecasts and sounding increasingly concerned... 4th November 2022 · 4 mins read
India Economics Update RBI tightening will continue on schedule The RBI’s out-of-cycle meeting today concluded with no decision on interest rates. That’s no surprise – it was called for administrative reasons, rather than as a response to changing economic... 3rd November 2022 · 3 mins read
Asia Economics Update Bank Negara Malaysia closing in on the finish line Malaysia’s central bank (BNM) raised its main policy rate by 25bp (to 2.75%) today, but with inflation falling and growth set to slow, we think the tightening cycle is nearing an end. 3rd November 2022 · 3 mins read
