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.
Alex Holmes Emerging Asia Economist
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Emerging Asia Economics Weekly

Korean labour market not as healthy as it looks

At face value, the Korean labour market figures for December paint an encouraging picture, with total employment rising to a new record high. However, a detailed examination of data reveals just how dependent the labour market has become on government support, which may not be sustained if the opposition PPP win March’s presidential election.

14 January 2022

Emerging Asia Economics Update

Bank of Korea turning even more hawkish

The Bank of Korea (BoK) is far from done, after making its first back-to-back rate hike since 2007 today. We now expect a total of four 25bp hikes in 2022, taking the policy rate to 2.00%.

14 January 2022

Emerging Asia Economics Update

What to expect in Emerging Asia in 2022

Asia will be – contrary to consensus expectations for widespread hikes – the only EM region in which the median central bank isn’t tightening this year.

10 January 2022

More from Alex Holmes

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 Data Response

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.

1 July 2021
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