Japan Chart Pack

Japan Chart Pack (Jan. 2025)

We are resending this publication because the heading of the previous version contained an error. With real household incomes set to fall again this year, the rebound in consumer spending will start...

9th January 2025 · 1 min read

China Rapid Response

China Consumer & Producer Prices (Dec. 2024)

Headline CPI inflation fell but this was driven by weather-related volatility in food prices. More important is that core CPI and PPI both continued to pick up, adding to signs that policy stimulus is...

9th January 2025 · 2 mins read

Australia & New Zealand Rapid Response

Australia Retail Sales (Nov. 2024)

9th January 2025 · 3 mins read

Japan Rapid Response

Japan Labour Cash Earnings (November 24)

Growth in base pay rose to its highest figure since 1992 in November, and we think that it will continue to hold strong through to this year. According to today’s preliminary estimate, labour cash...

8th January 2025 · 2 mins read

Commodities Chart Pack

Commodities Chart Pack (Jan. 2025)

The improvement in activity growth in China has been one reason for more bullish sentiment in the oil market around the turn of the year. However, the stimulus-fuelled cyclical upturn in China’s...

8th January 2025 · 0 mins read

Capital Daily

Recent strength in the Korean won could fade further

Although the Korean won has strengthened this year, we think its rally will unwind before long.

8th January 2025 · 3 mins read

Japan Economics Focus

Bank of Japan can’t declare 2% inflation victory just yet

We now expect underlying inflation to remain above the Bank of Japan’s 2% target for most of 2025 and the Bank to hike rates to 1.25%. However, we believe that it’s too early for the Bank to declare...

8th January 2025 · 16 mins read

Australia & New Zealand Rapid Response

Australia Monthly CPI Indicator (Nov. 24)

8th January 2025 · 2 mins read

Global Economics Focus

Trump and the implications for global fracturing

Donald Trump’s second term could redraw the global geopolitical map. A sustainable “Grand Bargain” with China, warmer relations with Russia, or a breakdown in the relationship between the US and its...

7th January 2025 · 6 mins read

India Economics Update

India: FDI slump set to reverse

The further slump in net foreign direct investment (FDI) inflows into India last year seems in large part a reflection of still-high global interest rates. One implication therefore is that the slump...

7th January 2025 · 3 mins read

Capital Daily

How low can Chinese bond yields go?

Chinese government bond yields have tumbled in recent weeks and we think that has a bit further to run. This fall in yields, alongside our view that US tariffs will be imposed, help inform our...

6th January 2025 · 4 mins read

Asia Economics Update

Vietnam to remain a regional outperformer in 2025

GDP growth in Vietnam picked up in the fourth quarter of 2024 and we expect another year of strong growth in 2025, with the main support coming from exports.

6th January 2025 · 2 mins read

Emerging Markets Economics Update

A loss of momentum at year-end

The small fall in the aggregate EM manufacturing PMI in December and the declines in headline PMIs for most countries suggest that EM industry lost some pace at the end of the year. We think...

2nd January 2025 · 3 mins read

Asia Economics Update

Asia December PMIs, Korea Trade, Singapore GDP

The December PMIs for Asia were a mixed bag, but we continue to expect manufacturing activity and GDP growth in the region to remain subdued in the near term. With growth set to struggle and inflation...

2nd January 2025 · 2 mins read

Australia & New Zealand Economics Update

Australian house price growth to remain weak in 2025

There was little festive cheer in Australia’s housing market last month, with house prices stagnating across the country’s eight capital cities. Given our view that the RBA has only limited room to...

2nd January 2025 · 3 mins read