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Manufacturing PMIs (June)

The June PMIs dropped back as virus outbreaks and supply chains issues created mounting headwinds for industry. With neither issue likely to be resolved soon, the rapid growth in industry over the past few quarters looks unlikely to be repeated.
Alex Holmes Emerging Asia Economist
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Philippines GDP (Q2)

Economic growth in the Philippines unexpectedly slowed in Q2 and we expect growth to remain subdued in the second half of 2022 as high commodity prices, rising interest rates and weaker global demand drag on the economy.

9 August 2022

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How much does Taiwan matter?

Taiwan matters far more to the world economy than its 1% share of global GDP would A further escalation in cross-strait tensions that cut Taiwan’s export off from the rest of the world would lead to renewed shortages in the automotive and electronics sectors and put further upward pressure on inflation. In view of the wider interest, we are also sending this Emerging Asia Economics Update to clients of our Global Economics Service.  

8 August 2022

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Lift-off for the Bank of Thailand

Thailand is one of the few countries in the region not to have raised interest rates this year, but that looks set to change on Wednesday. We, along with the majority of other analysts, are expecting a 25bp hike to the main policy rate. Further hikes seem likely later in the year and into 2023 but, unlike financial markets, we are not expecting an aggressive tightening cycle.

5 August 2022

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Emerging Asia Economics Update

Malaysia: rates to remain low for a long time

The fact that Bank Negara Malaysia (BNM) left its policy rate on hold at 1.75% today despite the poor economic outlook means any further loosening is unlikely. But with the recovery set to be slow and fitful, we think BNM will leave interest rates at their current low until at least the end of 2022.

8 July 2021

Emerging Asia Data Response

Korea Trade (June)

After a strong end to the month, Korean export values reached a fresh all-time high in June. But with some signs external demand is levelling off and semiconductor shortages are biting, we suspect goods export values are close to their peak.

1 July 2021

Emerging Asia Economics Update

Philippines: rate cuts on the horizon

The central bank in the Philippines (BSP) left its main policy rate on hold at 2.00% today, but with inflation fears receding, more rate cuts to support the beleaguered economy are only a few months away.

24 June 2021
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