Asia Economics Update Further rate cuts coming in the Philippines The central bank in the Philippines (BSP) cut interest rates by 25bp today, and further interest rate cuts seem only a matter of time. Given the subdued outlook for inflation and the dovish nature of... 9th May 2019 · 1 min read
Asia Data Response Philippines GDP (Q1) Q1’s slump in GDP growth should be temporary, as it was mainly driven by budget delays. But hopes for a sustained rebound are likely to be disappointed. A tough external environment and the lagged... 9th May 2019 · 1 min read
Asia Data Response Manufacturing PMIS (Apr.) A slight improvement in the April PMIs fits with yesterday’s trade data from Korea in suggesting that the region’s economies have passed the worst. That said, we still expect regional growth to remain... 2nd May 2019 · 1 min read
Asia Economics Update Weak export growth looks set to continue The most recent trade data, including the very weak outturn in Korean exports over the first 20 days of this month, suggest that regional trade remains in the doldrums. With the external sector facing... 22nd April 2019 · 1 min read
Asia Economics Weekly Technology slump bottoms out, Philippines budget A slump in electronics exports has been a key drag on economic growth across Asia in recent months, but there are tentative signs that the worst may now be over. Meanwhile, after months of delays, the... 18th April 2019 · 1 min read
Asia Economics Update Philippines: rate cut still likely in May The central bank of the Philippines (BSP) left rates unchanged today at Governor Diokno’s first meeting, but also sounded more hawkish than we had anticipated. Nevertheless, with inflation set to fall... 21st March 2019 · 1 min read
Asia Economics Weekly Philippines budget deadlock, Indonesia election Economic growth in the Philippines is likely to slow unless the 2019 budget is approved soon, but the cuts the government has announced to its GDP growth forecast for this year look too severe. We... 15th March 2019 · 1 min read
Asia Economics Update Philippines: is the slowdown in remittances a concern? Remittance growth to the Philippines has slowed steadily over the past decade and looks set to remain subdued over the next few years. While weak remittance growth is likely to act as a drag on... 14th March 2019 · 1 min read
Asia Economics Update Inflation to remain low, rates cuts coming Inflation across Emerging Asia has fallen back sharply in recent months and is likely to remain low over the coming quarters. With growth also set to slow, we expect some central banks to start... 7th March 2019 · 1 min read
Asia Economics Update Philippines: chances of rate cuts strengthening February’s drop in inflation to within the target range, and the appointment of a dovish new central bank (BSP) governor, increases the chance of a rate cut next quarter. But the surprise pick of... 5th March 2019 · 1 min read
Asia Data Response Manufacturing PMIs (Feb.) There were few positives in the February PMIs, with the headline readings pointing to another broad-based deterioration in regional manufacturing conditions. The chances of an improvement in the near... 4th March 2019 · 1 min read
Asia Economics Update Philippines: May interest rate cut looking more likely The central bank in the Philippines (BSP) left interest rates unchanged today, but with inflation set to continue falling back over the coming months, we think that the BSP will soon start to unwind... 7th February 2019 · 1 min read
Asia Economics Weekly Peace in Mindanao and a less hawkish Fed Peace in the restive southern province of Mindanao, the second biggest island in the Philippines, could lead to big economic gains for the island itself, but is unlikely to have much impact on overall... 25th January 2019 · 1 min read
Asia Data Response Philippines GDP (Q4) GDP growth in the Philippines was virtually unchanged in Q4 and we expect it to settle at around 6.0% in 2019, falling short of both government targets and the consensus view. 24th January 2019 · 1 min read
Asia Economics Weekly Weak end to 2018, rate cuts likely in the Philippines Data published over the past week show that Emerging Asia ended 2018 on a soft note, a trend we expect to continue into 2019. Meanwhile, a further sharp drop in inflation in the Philippines in... 4th January 2019 · 1 min read
Asia Economics Weekly Thailand to hike rates, peso to fall further The Bank of Thailand (BoT) is likely to raise its policy rate for the first time since 2011 at its meeting on Wednesday due to concerns about accelerating credit growth. Meanwhile, having widened to a... 14th December 2018 · 1 min read
