Economics

Daily analysis of the latest economic data points and policy developments in Asia and the major economies of the world.

Asia

Europe / Interest Rates

Eurozone: ECB Strategy review affirms dovish course

July 27, 2021
Eurozone: ECB Strategy review affirms dovish course

Notwithstanding reopening gains, some of this optimism has to be tempered by rising COVID cases. The ECB’s strategy review suggest that short rates will be kept lower for longer.

US / Inflation,Bonds

Macro Insights Weekly: Taking stock of currency positioning

July 26, 2021
Macro Insights Weekly: Taking stock of currency positionings

USD had a good rally in June-July; August may be challenging.

Indonesia / GDP

Indonesia/Thailand: Bumpy road to recovery

July 21, 2021
Indonesia/Thailand: Bumpy road to recovery

The pandemic delays the region’s rebound expectations.

Key Indicators

  • GDP
  • Inflation
  • Currency
  • Interest Rates
  • GDP
  • Inflation
  • Currency
  • Interest Rates

GDP growth, % YoY

20192020f2021f2022f
China6.12.310.55.5
Hong Kong-1.2-6.16.02.3
India4.7-7.18.06.0
Indonesia5.0-2.14.04.5
Malaysia4.3-5.64.05.0
Philippines**5.9-9.56.06.5
Singapore0.7-5.46.33.2
South Korea2.0-1.03.82.8
Taiwan3.03.15.02.8
Thailand2.4-6.12.13.5
Vietnam7.02.96.76.8
Eurozone0.9-6.84.04.2
Japan0.3-4.82.81.5
United States***2.2-3.56.82.5
** new CPI series *** eop for CPI inflation
Source: DBS Group Research, CEIC

CPI inflation, % YoY

20192020f2021f2022f
China2.92.32.52.5
Hong Kong2.90.32.02.5
India3.76.65.34.7
Indonesia2.82.02.22.8
Malaysia0.7-1.11.42.0
Philippines**2.52.44.03.0
Singapore0.6-0.21.41.5
South Korea0.40.51.71.0
Taiwan0.6-0.21.51.0
Thailand0.7-0.81.01.3
Vietnam2.83.23.33.6
Eurozone1.20.31.81.0
Japan0.50.00.00.5
United States***2.31.34.02.3
** new CPI series *** eop for CPI inflation
Source: DBS Group Research, CEIC

Exchange rates, end of period

3Q214Q211Q222Q223Q22
Mainland China*6.66.586.576.556.54
Hong Kong7.777.787.787.797.79
India7574.874.674.474.2
Indonesia14,70014600145001440014300
Malaysia4.24.184.164.144.12
Philippines4948.748.34847.7
Singapore**1.361.351.351.351.34
South Korea1,1501,1451,1451,1401,140
Taiwan
Thailand31.831.631.531.331.2
Vietnam***23,10023,07023,03023,00022,960
Eurozone1.171.181.191.21.21
Japan109109108108107
United States

Policy interest rates, end of period

3Q214Q211Q222Q223Q22
Mainland China*3.853.853.853.853.85
Hong Kong
India4.004.004.004.004.25
Indonesia3.503.503.503.503.50
Malaysia1.751.751.751.751.75
Philippines2.002.002.002.002.00
Singapore**0.120.120.120.120.12
South Korea0.500.750.751.001.00
Taiwan1.131.131.131.131.13
Thailand0.500.500.500.500.50
Vietnam***4.004.004.004.004.00
Eurozone0.000.000.000.000.00
Japan-0.10-0.10-0.10-0.10-0.10
United States0.250.250.250.250.25

From the Asian Insights Office

China: Defining the New Normal

China’s push for growth-at-any-cost is being replaced with the “New Normal”.It will fundamentally change how business and investing are done.

Read More

Macro Insights

India’s Economies and Markets Around Elections

March 05, 2019

Global

Global / Rates

Rates: The DM-EM divergence (Eugene Leow)

July 27, 2021
Global

Divergent monetary policies between DM and EM.

Global / FX

FX Daily: Short-term consolidation (Philip Wee)

July 27, 2021
Global

Going nowhere fast ahead of FOMC meeting

Insights and Analysis

Global / Economics & Strategy

Research Library...

July 27, 2021

Economics and Macro Strategy

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