Asia Economics Update How will Philippines’ anti-corruption drive affect activity? The experience from other emerging markets suggests that, even if the ongoing corruption scandal in the Philippines doesn’t fuel further unrest, a more concerted effort by the government to clamp down... 22nd October 2025 · 4 mins read
Asia Rapid Response Indonesia Interest Rate Announcement (Oct. 2025) Bank Indonesia unexpectedly left its benchmark interest rate on hold at 4.75% today but the accompanying communications suggest that further easing remains more likely than not. We expect three more... 22nd October 2025 · 2 mins read
Capital Daily ‘Takaichinomics’ and Japan’s financial markets Japan’s new Prime Minister is a strong supporter of the ‘Abenomics’ reforms that had a big effect on the country’s financial markets a bit over a decade ago. But we think they – especially JGBs and... 22nd October 2025 · 4 mins read
Climate Economics Update China’s green exports still strong despite trade tensions China’s green technology exports accelerated in year-on-year terms in September and were close to record high levels. Despite the risks to exports from new rare earth controls and tariffs, the former... 20th October 2025 · 2 mins read
China Rapid Response China GDP (Q3) & Activity (Sep. 2025) Headline GDP growth fell to its lowest in a year last quarter. But we think the figures still overstate the pace of economic expansion by at least 1.0%-pts. The September activity data were mixed –... 20th October 2025 · 3 mins read
China Economics Weekly Trade war flashpoints, PBOC holds renminbi steady The recent escalation in US-China trade tensions seems to have resulted in an impasse, with both sides looking to the other to initiate deescalation. For now, the Xi-Trump meeting at the APEC summit... 17th October 2025 · 7 mins read
Asia Economics Weekly Spillovers from rising US-China tensions, BI and BoK to cut US–China tensions have flared up again, with Trump’s threat of 100% tariffs on Chinese imports reinforcing the ongoing shift of US demand and production away from China. India’s position has been... 17th October 2025 · 6 mins read
India Economics Weekly Russian oil import conundrum, RBI squeezes short-sellers President Trump's comments this week that Prime Minister Modi has pledged to stop buying oil from Russia have been denied by India's Ministry Of External Affairs. The latest data show that Russia's... 17th October 2025 · 3 mins read
Asia Rapid Response Malaysia GDP (Q3, adv estimate) Malaysia’s economy accelerated in the third quarter but we expect growth to soften in the coming quarters which, alongside low inflation, should add to the case for further monetary easing this year. 17th October 2025 · 2 mins read
Japan Economics Weekly Incoming PM unlikely to loosen fiscal policy much The stars are aligning for Sanae Takaichi to become Japan’s first female Prime Minister as soon as Tuesday. While the parties that she needs to rely on to secure a parliamentary majority have all been... 17th October 2025 · 6 mins read
Emerging Markets Economics Update Friends with benefits: the US, Argentina and other EMs The US’s recent pledge of support for Argentina raises the question of whether other EMs facing financial difficulty might receive similar assistance. Pakistan and Jordan are potential candidates, as... 16th October 2025 · 4 mins read
Japan Economics Update Lower BoJ profits not a major drag on public finances If we’re right that the Bank of Japan will lift its policy rate to 1.5% by 2027, its net interest income will turn negative over the next couple of years. However, its overall net income should remain... 16th October 2025 · 5 mins read
China Economics Update US may revive plans to curb financial ties with China While talk of US retaliation against China’s new export controls has mostly focused on tariffs and other barriers to goods trade, investment restrictions are another weapon in Washington’s arsenal. If... 15th October 2025 · 6 mins read
China Rapid Response China Bank Lending & Broad Credit (Sep.) Bank loan growth continued to weaken in September, with little sign of any boost from the consumer loan subsidy scheme. And growth in government bond issuance slowed for a second month, driving a... 15th October 2025 · 2 mins read
Asia Economics Focus Prabowo’s first year: abandoning the policy guardrails? Indonesia’s President Prabowo Subianto will mark a year in office on Monday (20th October). After an encouraging start, a series of protests in recent months have pushed his administration in the... 15th October 2025 · 15 mins read
