Asia Economics Update Can Indonesia’s GDP statistics finally be trusted? Indonesia’s Q3 GDP data show that economic growth picked up to 5.5% y/y and signs that the statistics office has stopped smoothing the data have partly restored our faith in the official figures. But... 5th November 2026 · 3 mins read
Asia Economics Update Solid external position a buffer for the rupiah, for now Indonesia has a relatively solid external position, with the current account deficit still small and foreign exchange reserves comfortably covering the country’s short-term external financing needs... 4th November 2026 · 3 mins read
Asia Economics Update Korea’s car industry braces for China Shock 2.0 Korea’s car industry has weathered competition from China relatively well so far, but this resilience may not last as global demand shifts towards electric vehicles (EVs). This poses a growing risk to... 3rd November 2026 · 3 mins read
Asia Economics Update Is Bank Indonesia the new CBRT? Bank Indonesia’s apparent struggle to trade off the need to shore up the rupiah and support the economy (perhaps under political pressure) bears some similarities with Turkey’s experience over much of... 29th October 2026 · 3 mins read
Asia Economics Update AI boom insulating Asia from the energy shock, for now Asia has proved surprisingly resilient to the energy price shock triggered by the war in Iran. Subsidies and price controls have shielded consumers from much of the increase in global energy prices... 29th October 2026 · 3 mins read
Asia Economics Update Malaysia’s brain drain is harming its economic potential Malaysia’s brain drain is a longstanding challenge to its ambition to become a high-income economy. A large diaspora, much of it concentrated in Singapore, includes a significant number of skilled... 27th October 2026 · 3 mins read
Asia Economics Update Korea: strong, but unbalanced growth Korea recorded another quarter of strong growth in Q3, once again supported by robust export growth. Investment also picked up, but private consumption remained weak. We expect growth to remain... 27th October 2026 · 2 mins read
Asia Economics Update Bank of Korea to hike rates once more this cycle The Bank of Korea (BoK) kept its policy rate unchanged at 3.00% today. But the tone of its statement and the decision to raise its growth forecasts for this year and next suggest that the tightening... 22nd October 2026 · 3 mins read
Asia Economics Update Thailand’s car sector faces up to China Shock 2.0 Thailand has long been South East Asia’s leading automotive production hub, built around Japanese manufacturers and a deep network of local suppliers. But the shift towards EVs is reshaping its... 21st October 2026 · 3 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
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
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
Asia Economics Update Seoul’s housing boom complicates the BoK’s next move House price growth in Korea has accelerated, but the renewed strength is largely confined to Seoul. This is a concern for the central bank but, for now, we think officials are more likely to tighten... 12th October 2026 · 2 mins read
Asia Economics Update Malaysia: strong growth provides fiscal breathing room Strong economic growth has boosted Malaysia’s government revenues, giving policymakers some room to lift spending ahead of a possible general election next year. But the budget still targets a further... 9th October 2026 · 3 mins read
Emerging Markets Economics Update Central Asia’s boom comes with commodity risks This week we participated in an Emerging Markets Forum in Monaco, with a special focus on Central Asia. The key takeaway is that the growth outlook in Kazakhstan and Uzbekistan remains strong and... 9th October 2026 · 3 mins read
Asia Economics Update China Shock 2.0: a growing challenge for Korea China’s rise up the manufacturing value chain is putting increasing pressure on Korean producers. The impact has been particularly pronounced in batteries, petrochemicals and shipbuilding, where... 5th October 2026 · 3 mins read
