Japan Chart Pack Japan Chart Pack (Apr. 25) Our Japan Chart Pack has been updated with the latest data and our analysis of recent developments. Japan's economy will be hit less hard than many other large economies by the recent escalation of... 15th April 2025 · 1 min read
China Economics Focus Is China offloading its dollar assets? Available data don’t give a definitive answer to whether sales by Chinese institutions contributed to the recent volatility in the US bond market. But China’s state managers of foreign assets still... 14th April 2025 · 10 mins read
Climate Economics Update Major tests for IMF climate deals in Egypt and Pakistan The IMF’s Resilience and Sustainability Facilities with Egypt and Pakistan will incentivise policymakers to implement climate adaptation and mitigation policies. That said, both countries still need... 14th April 2025 · 3 mins read
Australia & New Zealand Economics Update Weaker business confidence would force RBA’s hand While the recent drop in crude oil prices would lower inflation a bit, that drag will be more than offset by a boost from the weaker Australian dollar. The upshot is that barring a sharp fall in... 14th April 2025 · 3 mins read
China Rapid Response China Merchandise Trade (Mar. 2025) Export growth accelerated in March, as manufacturers rushed to ship goods to the US ahead of “Liberation Day”. But shipments are set to drop back over the coming months and quarters. We think it could... 14th April 2025 · 2 mins read
China Rapid Response China Bank Lending & Broad Credit (Mar. 2025) Bank loan growth accelerated for the first time in over two years last month, helping to take broad credit growth to a 10-month high. While some further gains are likely, we still expect a more modest... 14th April 2025 · 2 mins read
Asia Rapid Response Singapore Monetary Policy Decision (April 2025) Singapore’s central bank loosened monetary policy again today and with inflation set to remain low and the economy weak, further easing looks likely in the coming quarters. 14th April 2025 · 3 mins read
Asia Economics Weekly Asia Weekly: Relief in Asia Trump’s 90-day pause on reciprocal tariffs offers welcome breathing room for Asia (outside China), and the region should avoid the worst of the fallout of the trade war. While the 10% universal tariff... 11th April 2025 · 9 mins read
Capital Daily Xi to Trump: Anything You Can Do (I Can Do … ) China’s tit-for-tat retaliation in its rapidly escalating trade war with the US exerted some renewed pressure on equities and the dollar today, with bonds still buffeted by expectations of monetary... 11th April 2025 · 5 mins read
Commodities Weekly Commodities Weekly: Tariffs add to existing oil demand woes The escalation of the US-China trade war continued to buffet commodity prices this week. While the final shape of trade policy remains uncertain, demand shocks in the world’s two largest oil consumers... 11th April 2025 · 3 mins read
China Economics Weekly China and US still in an escalatory loop The fact that the Chinese authorities have once again matched US tariff hikes suggests that they are in no rush to negotiate with the Trump administration. They’ve said that they won’t hike tariffs... 11th April 2025 · 9 mins read
India Economics Weekly India Weekly: More Apple pie, with a side of pragmatism Apple's reported decision to increase production of iPhones in India to export to the US is an example of how the country is well placed to benefit from the escalating trade war. But at the same time... 11th April 2025 · 5 mins read
Australia & New Zealand Economics Weekly ANZ Weekly: Tariff fallout won’t send the RBA into panic mode With concerns growing that Trump's trade war won't leave Australia unscathed, investors now expect the RBA to cut rates by 125bp across its easing cycle. The rout in financial markets also appears to... 11th April 2025 · 6 mins read
Japan Economics Weekly Japan Weekly: What would it take to scupper further BoJ rate hikes? The Bank of Japan will keep policy settings unchanged for a few months to assess the fallout from the trade war. However, our base case is that the trade war won’t provide a large enough drag on... 11th April 2025 · 6 mins read
Japan Economics Update Rebound in 10-year JGB yield has much further to run The trade war has merely delayed rather than scuppered further policy tightening by the Bank of Japan. Accordingly, we’re sticking to our forecast that the 10-year JGB yield will rise to 1.75% by year... 10th April 2025 · 3 mins read
Asia Rapid Response Philippines Monetary Policy Announcement (April) The central bank in the Philippines (BSP) resumed its easing cycle today by lowering its policy rate by 25bp (to 5.50%) and in its communications highlighted the threat to economic activity from US... 10th April 2025 · 2 mins read
