Asia Chart Pack Malaysia moves to stabilise the ringgit The Malaysian central bank (BNM) has introduced a range of measures to stabilise the ringgit, which has been the region’s worst performing currency over the past month. The most significant step it... 14th December 2016 · 1 min read
India Data Response Wholesale Prices (Nov.) Indian wholesale price inflation eased only slightly last month, supporting the message from yesterday’s CPI numbers that, while demonetisation has affected prices, there is little indication that... 14th December 2016 · 1 min read
India Economics Update Balance of payments position remains secure The narrowing in India’s current account deficit over a four-quarter sum in Q3, along with another rise in net FDI inflows, leaves the economy looking well-placed to cope in the event of a renewed... 14th December 2016 · 1 min read
India Data Response Consumer Prices (Nov.) The drop in CPI inflation in November can be attributed to the government’s demonetisation measures, but today’s data don’t indicate that disruption to the economy has been as dramatic as some reports... 13th December 2016 · 1 min read
Emerging Markets Financial Risk Monitor Fed tightening unlikely to cause major problems for EMs Our proprietary indicator of EM financial risk remains close to a 13-year low, which should help to reassure anyone concerned about a spate of crises across the emerging world in 2017. In particular... 13th December 2016 · 1 min read
India Data Response Industrial Production (Oct.) Indian industrial production data for October suggest that the sector was struggling even prior to the government’s demonetisation measures. 9th December 2016 · 1 min read
India Economics Update Demonetisation could boost inflation over longer term We think that consumer price inflation dropped in November as the government’s demonetisation measures are likely to have led to some price discounting. However, demonetisation could boost inflation... 9th December 2016 · 1 min read
India Economics Update RBI looks complacent while waiting for clarity on demonetisation Having previously shown that it was willing to prioritise growth even at the risk of missing targets for inflation, the RBI’s decision today to keep interest rates on hold despite the downside risks... 7th December 2016 · 1 min read
Emerging Markets Economics Focus Ten key calls for EMs in 2017 Far from being the catastrophe that many had expected 2016 was – as we anticipated – a year of stabilisation and recovery for many emerging markets. In this Focus we outline the ten key issues that we... 5th December 2016 · 1 min read
RBI Watch Dealing with demonetisation The liquidity-draining measures that were eventually introduced by the Reserve Bank of India (RBI) to deal with the rush of cash entering the banking system after the demonetisation announcement have... 2nd December 2016 · 1 min read
India Data Response Manufacturing PMI (Nov.) The drop in India’s manufacturing PMI reading in November reverses the strength from October. Looking ahead, local manufacturers are likely to struggle amid the fallout from the demonetisation... 1st December 2016 · 1 min read
Asia Economics Update Asian markets stabilise Asian financial markets have stabilised after falling sharply in the immediate aftermath of Donald Trump’s surprise US election victory. Looking ahead, we expect to see further falls in currencies... 30th November 2016 · 1 min read
India Data Response GDP (Q3) Today’s release of another set of strong GDP data requires two major caveats. The first is that the national accounts figures remain difficult to align with other indicators showing that activity is... 30th November 2016 · 1 min read
India Economics Update What next for the rupee? Markets largely shrugged off the recent fall in the rupee to a record low against the US dollar, and were right to do so. With other EM currencies also weakening and inflation higher in India than... 30th November 2016 · 1 min read
India Economics Focus Can services alone deliver rapid growth? India is often heralded for demonstrating a new path to middle income by focusing on the development of its services sector rather than on significant industrialisation. It is true that India’s... 28th November 2016 · 1 min read
Metals Data Response China and India’s gold imports (Oct.) The latest import data out of China and India show a mixed picture for gold demand in the two largest consumers. China’s appetite for the metal appears to have faltered in recent months. In contrast... 24th November 2016 · 1 min read
