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
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
Commodities Chart Pack Commodities Chart Pack (April 2025) Commodity prices have been on a rollercoaster ride but, on net, many prices remain lower than before “Liberation Day”. In the coming months, our base case is that the 90-day pause on tariffs will be... 10th April 2025 · 1 min 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
India Economics Update RBI’s easing cycle will run further than most expect The Reserve Bank of India’s (RBI’s) decision to cut the repo rate by another 25bps today to 6.00% comes as no surprise given the recent sharp drop in inflation and the headwinds from US tariffs. But... 9th April 2025 · 3 mins read
China Economics Update China’s exports to the US set to collapse Unless they are rolled back, the latest US tariff hikes mean that China’s shipments to the US will more than halve over the coming years, even assuming the renminbi weakens to 8.00/$. This will reduce... 9th April 2025 · 4 mins read
Japan Economics Update Escalating trade war will keep BoJ on sidelines for now Even if Japan’s attempts to negotiate a trade deal with Trump succeed quickly, concerns about the impact of escalating tensions between the US and other trading partners will force the Bank of Japan... 9th April 2025 · 4 mins read
China Rapid Response China Consumer & Producer Prices (Mar. 2025) Deflationary pressures persisted last month and will almost certainly deepen over the coming quarters as it becomes more difficult for Chinese firms to export their excess supply. 10th April 2025 · 2 mins read
Event Drop-In: What Trump’s tariffs mean for Asian economies and markets 1744268400 The escalation of tariffs by the US and China now threatens to rupture the flow of trade between the world’s two largest economies.
