China Economics Update GDP pick-up belies weaker domestic demand Official GDP growth picked up in Q3, but the improvement masks a further weakening in domestic demand. The detailed breakdown suggests that last quarter’s rebound was driven entirely by net exports... 21st October 2026 · 4 mins read
Asia Economics Update Bank of Korea should look through the rise in core inflation The recent pick-up in core inflation in Korea is less concerning than may first appear. A large chunk of it can be attributed to the indirect impact of the energy shock and to the global AI boom... 20th October 2026 · 4 mins read
Emerging Markets Economics Update How will higher bond yields shape EM fiscal risks? EM public finances have become more vulnerable to higher interest rates in recent years. Some major EMs with underlying fiscal vulnerabilities – including Brazil, South Africa and Hungary – have... 19th October 2026 · 4 mins read
Asia Economics Update Bank Indonesia to hike on Wednesday to support rupiah The further sell-off today in Indonesia’s financial markets following MSCI’s latest threat to downgrade the country’s stock market means that a 25bp interest rate hike, to 6.00%, at Bank Indonesia’s... 19th October 2026 · 3 mins read
China Rapid Response China GDP (Q3) & Activity (Sep. 2026) The improvement in official GDP growth last quarter is at odds with the slowdown shown by our China Activity Proxy (CAP). But the September data do suggest that the economy regained momentum at the... 19th October 2026 · 3 mins read
Australia & New Zealand Economics Update Higher neutral rate need not prompt more tightening The evidence that the neutral rate of interest has continued to rise is mixed. And with excess demand now clearly diminishing, we’re not convinced that further monetary tightening is warranted. 19th October 2026 · 4 mins read
China Economics Weekly Bond market déjà vu for the PBOC The PBOC again faces the question of whether to intervene as China’s 10-year government bond yield approaches its historic low, a situation that prompted the central bank to suspend bond purchases in... 16th October 2026 · 6 mins read
India Economics Weekly Rupee rally requires an improvement in fundamentals The rupee has rallied this week after the RBI introduced measures to curb dollar demand and deter speculative positioning. But while these steps have provided near-term support, a more durable... 16th October 2026 · 3 mins read
Asia Economics Weekly Bank Indonesia: MSCI threat puts rate hike in play Bank Indonesia is likely to leave rates on hold at its meeting next week, but today’s sharp market sell-off following MSCI’s threat to downgrade Indonesia to standalone status raises the prospect of a... 16th October 2026 · 4 mins read
Asia Rapid Response MSCI downgrade threat deals further blow to Indonesia 16th October 2026 · 2 mins read
Japan Economics Weekly PPI weakness masks persistent price pressures September’s decline in producer prices should not be interpreted as evidence that inflation is fading. The fall was driven by a handful of idiosyncratic factors, while a closer look at the data... 16th October 2026 · 4 mins read
Australia & New Zealand Economics Weekly Looser labour market means policy is tight enough The RBA argued that monetary policy was only “somewhat restrictive” at its September meeting. However, the Bank’s decision to lift the cash rate further at that meeting means that policy is now more... 16th October 2026 · 4 mins read
Australia & New Zealand Rapid Response Australia Labour Market (Sep. 2026) The clear deterioration in labour market conditions should give the RBA greater confidence that policy settings are adequately restrictive. 15th October 2026 · 2 mins read
China Rapid Response China Bank Lending & Broad Credit (Sep.) Broad credit growth fell to a fresh record low last month, dragged down by continued weakness in bank lending. Household borrowing remained the main drag, reflecting weak appetite for debt-financed... 14th October 2026 · 3 mins read
Asia Economics Update MAS leaves policy on hold, further moves unlikely The Monetary Authority of Singapore (MAS) left monetary policy settings unchanged today, and we think they will remain on hold in the near term. Although growth should remain strong, inflation is... 14th October 2026 · 3 mins read
