China Rapid Response

Bank Lending & Broad Credit (May)

Bank loan growth in China was the slowest on record in May, but accelerated government bond issuance helped broader credit growth edge up. Fiscal loosening should support further gains in the near...

14th June 2024 · 2 mins read

Asia Economics Weekly

Malaysia subsidy cuts, BoK minutes, Pakistan budget

Headline inflation in Malaysia has been among the lowest in Asia but that is soon set to change now that the government is pushing ahead with long-planned subsidy cuts aimed at improving the public...

14th June 2024 · 6 mins read

China Economics Weekly

Europe leaves the road open for China’s EV-makers

China protested the European Commission’s imposition of additional tariffs on Chinese-made electric vehicles this week but, if the EU goes no further, China’s government is likely to see this as a...

14th June 2024 · 6 mins read

India Economics Weekly

New government, same faces

The minimal personnel changes in PM Modi’s new cabinet suggests the new government’s policy direction will be similar to before. Admittedly, concessions on spending may have to be made to appease the...

14th June 2024 · 3 mins read

Japan Economics Update

Bank will hike its policy rate once more in July

The Bank of Japan disappointed markets today by announcing that it will only present a detailed plan for reducing its bond purchases at its July meeting. We think it will also deliver a final policy...

14th June 2024 · 3 mins read

Japan Economics Weekly

Higher bond yields won’t prompt massive repatriation

While 10-year JGB yields have fallen well below 1% as the BoJ today delayed the announcement of tapering plans to its July meeting, they are still around a decade-high. The ability of Japanese...

14th June 2024 · 5 mins read

Australia & New Zealand Economics Weekly

RBA will look past impact of energy rebates

This week the Queensland government followed in the footsteps of the Western Australian government and the Commonwealth by announcing significantly more generous energy subsidies for households. With...

14th June 2024 · 5 mins read

Japan Rapid Response

Bank of Japan Meeting (Jun. 24)

The Bank of Japan announced today that it will present a detailed plan for reducing its bond purchases at the upcoming meeting in July and we think it will also deliver a final policy rate hike then...

14th June 2024 · 2 mins read

Capital Daily

Treasury yields may not push JGB ones down further

Although falling Treasury yields may continue to exert some downward pressure on Japanese Government Bond (JGB) yields, we don’t think that will drive them much lower by the end of the year.

13th June 2024 · 4 mins read

Middle East & North Africa Economics Weekly

Morocco’s EVs to fuel auto boom, Aramco issuance

The EU’s tariffs on EV imports from China may encourage Chinese firms to raise investments into Morocco, whose auto sector is growing rapidly on the back of expansion plans from both Chinese and...

13th June 2024 · 7 mins read

Climate Economics Update

Emissions in China are close to a turning point

China’s rapid uptake of clean power means that it is on track to overachieve on its target of reaching peak carbon dioxide emissions before 2030. That said, the pace of decline will be slow at first...

13th June 2024 · 4 mins read

Asia Rapid Response

Taiwan Monetary Policy Announcement (June)

Taiwan’s central bank (CBC) left its main policy rate unchanged today (at 2.0%), and with growth set to remain strong we expect rates to remain on hold throughout 2024 and 2025. In contrast, the...

13th June 2024 · 4 mins read

Australia & New Zealand Rapid Response

Australia Labour Market (May 2024)

Although the unemployment rate fell anew in May, leading indicators continued to point to a marked rise in the months ahead. All told, the data suggest that the RBA will remain in its “wait and see”...

13th June 2024 · 2 mins read

India Rapid Response

India Consumer Prices (May 2024)

Consumer price inflation came in cooler than most expected last month, which should reassure the RBI as it considers when to begin its easing cycle. We remain comfortable with our long-held view that...

12th June 2024 · 2 mins read

Asia Rapid Response

Thailand Monetary Policy Announcement (June)

Thailand’s central bank (BoT) today left interest rates unchanged and appeared in no rush to loosen policy. We think the weakness of the economy and very low inflation will persuade the central bank...

12th June 2024 · 2 mins read