China Activity Monitor CAP: Growth picks up thanks to fiscal boost Our China Activity Proxy suggests that activity growth edged up in July thanks to a ramp-up in fiscal spending. Policy support will continue to drive a cyclical recovery over the coming months. But... 29th August 2024 · 4 mins read
China Rapid Response PBOC buys bonds today but will be selling soon The PBOC has just revealed that it purchased RMB400bn of government bonds from primary dealers today. This might seem like an odd move given that the central bank has spent recent months trying to... 29th August 2024 · 2 mins read
China Economics Update PBOC at the mercy of leadership’s muddled priorities The PBOC appears poised to step up its efforts to prevent bond yields from falling, even though lower borrowing costs would help the economy right now. The inconsistencies in its policy approach are... 29th August 2024 · 6 mins read
Emerging Markets Economics Chart Pack Emerging Markets Chart Pack (August 2024) EM recoveries are beginning to slow and should continue to do so over the coming quarters. Within this there will be regional variation, with Asia the outperformer and Latin America the laggard... 29th August 2024 · 1 min read
China Economics Weekly Officials ease price controls, mull direct homebuying Allowing local governments to use special bond issuance to directly purchase unsold homes could address the lack of SOE participation in the current property destocking scheme. But this approach would... 23rd August 2024 · 4 mins read
Asia Economics Weekly Taiwan defies dovish shift among Asia’s central banks The common theme across the three central bank meetings in Asia this week was that inflation concerns are fading, partly due to a rebound in currencies, and policymakers appear a bit more concerned... 23rd August 2024 · 5 mins read
Asia Economics Update BoK set to loosen policy by more than most expect The Bank of Korea left rates on hold again today but sounded very dovish. With policymakers now more confident about achieving their inflation target and domestic demand set to remain weak, we think... 22nd August 2024 · 3 mins read
Asia Rapid Response Korea Policy Rate (August 2024) The decision by the Bank of Korea to leave interest rates unchanged (at 3.5%) today came as no surprise, but of more interest will be the tone of Governor Rhee’s press conference and the central bank... 22nd August 2024 · 1 min read
Capital Daily Has the dam finally broken for Asian FX? We think Asian currencies will generally continue to rise against the US dollar over time, albeit perhaps not quite as quickly as they have lately. 21st August 2024 · 5 mins read
Asia Rapid Response BI hints at rate cuts in Q4 Bank Indonesia today left its policy rate unchanged at 6.25%, but the central bank’s dovish commentary supports our view that rates will be cut before the end of the year. We expect the central bank... 21st August 2024 · 2 mins read
Asia Rapid Response Thailand Monetary Policy Meeting (August 2024) Thailand’s central bank (BoT) today left interest rates unchanged but if, as we expect, growth slows further and inflation remains very low, we think the central bank will start loosening policy from... 21st August 2024 · 2 mins read
China Economics Weekly Not a balance sheet recession, yet Weak credit data has stoked fears of a balance sheet recession in China. While the economy is still far from reaching that point, the private sector will eventually start to cut down on its borrowing... 16th August 2024 · 6 mins read
Asia Economics Weekly Thailand’s truce breaks down, Asia’s central banks start to shift stance Paetongtarn Shinawatra is the third member of her family to serve as Thailand’s prime minister. Both her father and her aunt then went into exile. Events over the past two weeks will give investors no... 16th August 2024 · 9 mins read
Asia Rapid Response Malaysia GDP (Q2, second estimate) The second estimate of Q2 GDP confirmed that Malaysia’s economy accelerated sharply but, with inflation set to jump, commodity prices likely to decline and the boost from tourism set to fade, we still... 16th August 2024 · 2 mins read
China Economics Focus How to fix China’s property destocking scheme The property support measures included in yesterday’s stimulus announcement won’t be enough to drive a turnaround in the housing market. In a detailed analysis of the government’s property destocking... 16th August 2024 · 18 mins read
