China Economics Weekly China Weekly: More weakness in store for the renminbi A sharp depreciation of the renminbi this week took the currency to the edge of the trading band that the PBOC has been holding steady since Donald Trump's election. The PBOC is likely to ramp-up its... 10th January 2025 · 8 mins read
India Economics Weekly India Weekly: Is the RBI changing tack on the rupee? Movements in the Indian rupee - which hit a fresh low of 85.9/$ his week - appear to have been bigger under the new RBI Governor Sanjay Malhotra than they were under his predecessor, raising the... 10th January 2025 · 4 mins read
Asia Economics Weekly Asia Weekly: Bank of Korea to cut rates again, free meals in Indonesia With inflation under control and signs the political crisis is weighing on the already-weak economy, we expect the Bank of Korea to cut interest rates by a further 25bps at its meeting on Thursday... 10th January 2025 · 7 mins read
Japan Economics Weekly Japan Weekly: Case for tighter policy remains intact Wage growth continues to accelerate and all signs point to this year's Shunto delivering another strong pay hike. However, the Bank of Japan wants to see more clarity on US economic policy and we... 10th January 2025 · 5 mins read
Event Drop-In: Trump 2.0 – US and Asia macro implications 1736841600 2025 has started with a bang as bonds have sold off amid growth and inflation fears – and the operating environment may only get more tricky from here.
Japan Chart Pack Japan Chart Pack (Jan. 2025) We are resending this publication because the heading of the previous version contained an error. With real household incomes set to fall again this year, the rebound in consumer spending will start... 9th January 2025 · 1 min read
China Rapid Response China Consumer & Producer Prices (Dec. 2024) Headline CPI inflation fell but this was driven by weather-related volatility in food prices. More important is that core CPI and PPI both continued to pick up, adding to signs that policy stimulus is... 9th January 2025 · 2 mins read
Japan Rapid Response Japan Labour Cash Earnings (November 24) Growth in base pay rose to its highest figure since 1992 in November, and we think that it will continue to hold strong through to this year. According to today’s preliminary estimate, labour cash... 8th January 2025 · 2 mins read
Capital Daily Recent strength in the Korean won could fade further Although the Korean won has strengthened this year, we think its rally will unwind before long. 8th January 2025 · 3 mins read
Commodities Chart Pack Commodities Chart Pack (Jan. 2025) The improvement in activity growth in China has been one reason for more bullish sentiment in the oil market around the turn of the year. However, the stimulus-fuelled cyclical upturn in China’s... 8th January 2025 · 0 mins read
Japan Economics Focus Bank of Japan can’t declare 2% inflation victory just yet We now expect underlying inflation to remain above the Bank of Japan’s 2% target for most of 2025 and the Bank to hike rates to 1.25%. However, we believe that it’s too early for the Bank to declare... 8th January 2025 · 16 mins read
Global Economics Focus Trump and the implications for global fracturing Donald Trump’s second term could redraw the global geopolitical map. A sustainable “Grand Bargain” with China, warmer relations with Russia, or a breakdown in the relationship between the US and its... 7th January 2025 · 6 mins read
India Economics Update India: FDI slump set to reverse The further slump in net foreign direct investment (FDI) inflows into India last year seems in large part a reflection of still-high global interest rates. One implication therefore is that the slump... 7th January 2025 · 3 mins read
Capital Daily How low can Chinese bond yields go? Chinese government bond yields have tumbled in recent weeks and we think that has a bit further to run. This fall in yields, alongside our view that US tariffs will be imposed, help inform our... 6th January 2025 · 4 mins read
Asia Economics Update Vietnam to remain a regional outperformer in 2025 GDP growth in Vietnam picked up in the fourth quarter of 2024 and we expect another year of strong growth in 2025, with the main support coming from exports. 6th January 2025 · 2 mins read
Emerging Markets Economics Update A loss of momentum at year-end The small fall in the aggregate EM manufacturing PMI in December and the declines in headline PMIs for most countries suggest that EM industry lost some pace at the end of the year. We think... 2nd January 2025 · 3 mins read
