Asia Economics Update New Bank Indonesia governor prioritises rupiah stability Bank Indonesia (BI) hiked rates by 25bp today (its second increase in two weeks). We expect further hikes later this year, but we doubt that a repeat of the aggressive tightening cycle seen in 2013 is... 30th May 2018 · 1 min read
Asia Economics Update Further hikes likely in Indonesia amid rupiah worries The performance of the rupiah will continue to determine the near-term outlook for monetary policy in Indonesia. With the currency likely to remain under downward pressure as Treasury yields in the US... 17th May 2018 · 1 min read
Asia Data Response Indonesia GDP (Q1) Indonesia’s growth eased to 5.1% y/y in Q1, from 5.2%, and we see little prospect of a rebound. With policymakers running out of scope to stimulate the economy further, we expect growth to remain... 7th May 2018 · 1 min read
Asia Economics Weekly Philippines: Interest rates to rise as inflation concerns mount A further rise in inflation in April and more hawkish comments from policymakers suggest the central bank of the Philippines (BSP) is likely to raise interest rates at its upcoming meeting on Thursday... 4th May 2018 · 1 min read
Asia Data Response Manufacturing PMIs (Apr.) The April PMIs for Emerging Asia suggest that the region’s manufacturing sectors were lacklustre at the start of Q2. Focussing on the two economies where the PMIs most closely track the hard data... 2nd May 2018 · 1 min read
Asia Economics Update Further rate cuts in Indonesia still likely Bank Indonesia (BI) left interest rates unchanged today, while also appearing to rule out further interest rate cuts. But with growth set to underperform and inflationary pressures under control, we... 22nd March 2018 · 1 min read
Asia Data Response Manufacturing PMIs (Feb.) The February PMIs for Emerging Asia suggest the region’s manufacturing sectors remained in decent health. While the surveys point to rising prices, the big picture is that inflation in most of these... 1st March 2018 · 1 min read
Asia Data Response Indonesia GDP (Q4) Indonesia’s growth picked up slightly in the fourth quarter to 5.2%, from 5.1%, but we doubt the recovery has further to run. While the consensus is expecting growth to accelerate gradually over the... 5th February 2018 · 1 min read
Asia Data Response Manufacturing PMIs (Jan.) Emerging Asia’s PMIs for January suggest the region’s manufacturing sectors gained momentum at the start of 2018. Encouragingly, the headline readings for Taiwan and Korea – the two economies where... 1st February 2018 · 1 min read
Asia Economics Update Further rate cuts in Indonesia likely by mid-year Today’s decision by Bank Indonesia (BI) to leave interest rates unchanged at 4.25% came as no surprise. Although the central bank’s accompanying statement suggests that further easing is not imminent... 18th January 2018 · 1 min read
Asia Data Response Manufacturing PMIs (Dec.) The December PMIs for Emerging Asia suggest that the region’s manufacturing sectors remained in good health. Focusing on the two economies where the PMIs most closely track the hard data, Taiwan’s... 2nd January 2018 · 1 min read
Asia Economics Update Further easing in Indonesia likely to be very gradual Today’s decision by Bank Indonesia to leave interest rates unchanged at 4.25% does not mean the easing cycle is over. However, with worries growing about the strength of the rupiah, we think any... 16th November 2017 · 1 min read
Asia Data Response Indonesia GDP (Q3) The gentle acceleration in Indonesia’s GDP growth in the third quarter to 5.1%, from 5.0%, is unlikely to mark the start of a sustained recovery in the economy. Given the mounting headwinds facing the... 6th November 2017 · 1 min read
Asia Data Response Manufacturing PMIs (Oct.) The October PMIs for Emerging Asia suggest that the region’s manufacturing sectors lost some momentum at the start of Q4. The headline readings for Korea and Taiwan – the two economies where the PMIs... 1st November 2017 · 1 min read
Asia Chart Pack Malaysia’s budget won’t be a giveaway bonanza While Malaysia has made good progress in bringing down its budget deficit, there remains limited room for a pre-election giveaway in the 2018 budget, which is due to be announced on 27th October... 26th October 2017 · 1 min read
Asia Economics Weekly Indonesia’s Jokowi failing to deliver on reform Joko Widodo (commonly known as Jokowi) came to power three years ago promising to reinvigorate the struggling economy and raise growth to 7%. Despite some encouraging progress at the start of his... 20th October 2017 · 1 min read
