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Bank of Korea to hike at least three more times in 2022

Today’s move by the Bank of Korea is likely to mark the second hike of at least five, in a tightening cycle that began in August and will extend well into next year.
Alex Holmes Emerging Asia Economist
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Emerging Asia Economics Update

Pakistan: Further tightening needed, as IMF talks begin

High inflation and the fall in the currency were the two key factors behind the State Bank of Pakistan’s (SBP) decision to raise interest rates by a further 150bp today. More tightening looks inevitable, and much will depend on whether the government can agree terms with the IMF over the resumption of its US$6bn loan programme. Asia Drop-In (26th May, 0900 BST/16:00 SGT): Can Asia remain the low inflation exception? Join our 20-minute briefing about the region’s price and policy outlooks. Register here.

23 May 2022

Emerging Asia Economics Weekly

Asia late to tightening but won’t have to go far

Central banks in India, the Philippines and Malaysia have all raised interest rates for the first time this cycle in recent weeks, and we expect further hikes next week in Indonesia, Korea and Pakistan. But with inflation set to fall back in the second half of the year and growth likely to weaken, tightening cycles are unlikely to be aggressive. Our forecasts are generally more dovish than the consensus.
Asia Drop-In (26th May, 0900 BST/16:00 SGT): Can Asia remain the low inflation exception? Join our 20-minute briefing about the region’s price and policy outlooks. Register here.

20 May 2022

Emerging Asia Economics Update

Philippines: central bank will tighten gradually

The central bank in the Philippines (BSP) started raising interest rates today, but with inflation set to slow later in the year and the economic recovery likely to weaken, the tightening cycle is set to be gradual and relatively short. Asia Drop-In (26th May, 0900 BST/16:00 SGT): Can Asia remain the low inflation exception? Join our 20-minute briefing about the region’s price and policy outlooks. Register here.

19 May 2022

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Emerging Asia Data Response

Singapore GDP (Q3, Revised)

Revised Q3 GDP data show that Singapore’s economy grew more strongly than first thought last quarter, and while containment measures mean the recovery is unlikely to have gained much momentum so far this quarter, a gradual reopening should see growth accelerate in the coming months.

24 November 2021

Emerging Asia Data Response

Korea Trade (1st – 20th Nov.)

Korean export values saw continued strength in the first 20 days of November and should remain elevated in the coming months as exporters work through large backlogs of unmet orders.

22 November 2021

Emerging Asia Economics Update

Philippines: rates will stay low to support recovery

The central bank in the Philippines (BSP) left its main policy rate on hold at 2.00% today to support the economic recovery, and with GDP still well below its pre-pandemic level, rates are set to remain low for a long time to come.

18 November 2021
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