Asia Data Response Manufacturing PMIs (Mar.) The manufacturing PMIs for Asia suggest that industry has been hit hard by the coronavirus, and we suspect the readings will deteriorate much further in the next couple of months. 1st April 2020 · 2 mins read
Asia Economics Update Philippines: more easing to come from the BSP The central bank in the Philippines is likely to ease further in the months ahead after opting to cut its main policy rate by 50bps today. The BSP has not yet introduced loan programmes or targeted... 19th March 2020 · 3 mins read
Asia Economics Update Philippines capital city on “lockdown” over virus fears, rate cuts more likely The new restrictions on economic activity in Manila will further weigh on the country’s outlook and mean the central bank (BSP) will almost certainly cut interest rates again at its meeting on... 12th March 2020 · 2 mins read
Asia Economics Focus New forecasts for Emerging Asia as coronavirus spreads There is a huge amount of uncertainty over how things will play out over the coming weeks as the coronavirus crisis continues to unfold, and any forecasts should be taken with more than the usual... 10th March 2020 · 10 mins read
Asia Economics Update Coronavirus: the long-term impact on supply chains The coronavirus itself may not trigger a wholesale reorganisation of supply chains, but it strengthens the argument for companies to reduce associated risks. One response might be to introduce more... 2nd March 2020 · 3 mins read
Asia Data Response Manufacturing PMIs (Feb.) PMI readings for Asia are likely to have understated the disruption to industry from factory shutdowns in China, and the recent rise in coronavirus cases outside of China means that worse may be yet... 2nd March 2020 · 2 mins read
Asia Economics Update Philippines: BSP cuts, more easing to come The Philippines (BSP) cut its main policy rate by 25bp to 3.75% today and with growth likely to disappoint and inflation set to remain well within the BSP’s target, we expect more easing later this... 6th February 2020 · 3 mins read
Asia Data Response Manufacturing PMIs and Korea Trade (Jan.) PMIs for Emerging Asia (ex. China) and Korean trade data were mostly unchanged in January, but neither give a good indication of how the coronavirus has hit the regional economy most recently. With... 3rd February 2020 · 3 mins read
Asia Data Response Philippines GDP (Q4) GDP growth picked up pace again in the final quarter of last year, but with the big boost from government spending likely to fade this year, we think this will be as good as it gets. 23rd January 2020 · 3 mins read
Asia Economics Weekly Taiwan election, Thailand’s currency dilemma Given her huge lead in the opinion polls, it will come as a major surprise if Tsai Ing-wen is not re-elected for a second and final term as Taiwan’s president on Saturday. However, whether Tsai can... 10th January 2020 · 6 mins read
Asia Data Response Manufacturing PMIs (Dec.) PMIs for Emerging Asia (ex. China) improved slightly in December, which is consistent with our view that while regional growth remains weak, it has at least bottomed out. 2nd January 2020 · 2 mins read
Asia Economics Weekly BoK to cut again, Sri Lanka on slow road to recovery Minutes from the Bank of Korea’s (BoK) November rate meeting reveal that while only one of the seven members of its Monetary Policy Board voted for a cut, other members also struck a dovish tone. We... 20th December 2019 · 9 mins read
Asia Economics Focus What to expect in 2020 and how we differ from consensus Growth in Emerging Asia has struggled over the past year. While most economies should stage a modest recovery over the coming quarters on the back of looser fiscal and monetary policy, with China... 19th December 2019 · 9 mins read
Asia Economics Update Philippines: BSP on hold, easing to resume in 2020 The Philippines (BSP) left its main policy rate at 4.00% today, but with growth likely to disappoint and inflation set to remain below the mid-point of the BSP’s target, we expect more easing next... 12th December 2019 · 3 mins read
Asia Economics Update Philippines: peso decline to resume next year The peso has rebounded over the past year due in large part to a sharp narrowing of the current account deficit. But with the deficit set to widen again next year as infrastructure spending picks up... 9th December 2019 · 2 mins read
Asia Economics Update Philippines: higher inflation won’t stop further easing Inflation in the Philippines rose last month for the first time since May and is set to climb higher over the coming year. However, with inflation set to remain low by past standards, we are sticking... 5th December 2019 · 2 mins read