Asia Economics Update Singapore’s growth set to ease but MAS to stay on hold Singapore’s central bank kept policy settings unchanged today and its accompanying statement was a touch hawkish. With the economy set to slow rather than slump, inflation likely to rise gradually... 14th October 2025 · 3 mins read
Asia Economics Update Philippines: infrastructure boost starting to pay off The recent corruption scandal involving flood-control projects has cast a shadow over the Philippines’ infrastructure drive. Yet despite this, the country has seen substantial improvements in roads... 9th October 2025 · 3 mins read
Asia Economics Update Philippines and the risks from the corruption scandal The ongoing investigation into corruption in the Philippines brings the risk of further protests over the coming months. So long as any unrest is limited in scale and duration, the economic and... 8th October 2025 · 6 mins read
Asia Economics Update Time to worry about political stability in Asia? Political protests have surged across Asia this year, fuelled by frustration with corruption, inequality, and job insecurity. While the immediate economic and market impact is likely to be limited, a... 6th October 2025 · 4 mins read
India Economics Update Asia Manufacturing PMIs (September) The September PMI readings for most countries in Asia remained weak and we continue to expect manufacturing activity in the region to struggle in the near term. With growth set to soften and inflation... 1st October 2025 · 2 mins read
Asia Economics Update Is Indonesia making a policy mistake? Policymakers in Indonesia can make a case that more monetary and fiscal support is warranted given the economic drag from recent protests and flooding as well as US tariffs, and the backdrop of low... 18th September 2025 · 5 mins read
China Economics Update Rerouting providing less of an offset Our updated estimates suggest that trade rerouting is so far doing less to insulate Chinese exports from US tariffs than in the past. That’s largely because rerouting via Mexico hasn’t picked up since... 16th September 2025 · 5 mins read
Asia Economics Update Prabowo risks deepening Indonesia’s economic problems The recent protests in Indonesia underscore deep-seated economic frustrations. Despite solid headline GDP growth in recent years, wages have been stagnant and the middle class has been shrinking... 15th September 2025 · 4 mins read
Asia Economics Update Indonesia: deficit breach could send bond spreads wider Concerns that Indonesia’s government will breach it’s 3% of GDP budget deficit rule have only grown after the replacement of respected Finance Minister Sri Mulyani. While the fiscal risk premium in... 10th September 2025 · 4 mins read
Asia Economics Update Key questions (and answers) on the turmoil in Indonesia This Update answers the key questions on recent developments in Indonesia and the implications for fiscal and monetary policy, as well as the country’s financial markets. We discussed many of these... 10th September 2025 · 6 mins read
Asia Economics Update Is Bank Indonesia’s independence at risk? Concerns about the independence of Bank Indonesia have grown following the announcement of a fresh “burden-sharing” agreement with the government and, most recently, the removal of respected finance... 9th September 2025 · 5 mins read
Asia Economics Update Indonesia protests: assessing the economic fallout The latest bout of unrest in Indonesia is unlikely to deliver a significant blow to the economy, but it is a symptom of underlying economic weaknesses and highlights political risks that could erode... 2nd September 2025 · 3 mins read
Asia Economics Update Korea: worries about financial risks overblown Worries that interest rate cuts in Korea are stoking financial risks look overdone. Property prices across most of the country are either flat or falling, while household debt is declining as a share... 1st September 2025 · 3 mins read
Asia Economics Update Asia Manufacturing PMIs (August) The August PMI readings for most countries in Asia were subdued and we continue to expect manufacturing in the region to struggle in the near term. And with inflation set to remain contained, we think... 1st September 2025 · 3 mins read
Asia Economics Update Korea: On hold, but further easing coming The Bank of Korea left interest rates unchanged today at 2.50% but made clear hints in its statement and press conference that this does not mark the end of the easing cycle. With growth set to... 28th August 2025 · 3 mins read
Asia Economics Update How rising defence spending will impact Asia Defence spending across Asia is set to rise over the coming years, driven in part by increased pressure from the US for its allies to shoulder more of their own security costs. While the overall boost... 27th August 2025 · 4 mins read
