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Weak start to Q2, hawkish BoK, Vietnam rate cut

Recent national accounts data confirmed that most economies struggled in the first quarter of the year. The latest monthly activity data suggest that Q2 is shaping up to be another weak quarter.

Meanwhile, Vietnam’s unscheduled rate cut earlier this week is unlikely to be the last in the cycle. With inflation back to target and the economy slowing, we expect at least another 50bps of rate cuts this year.

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