Author: Editor
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Malaysia: Macro Brief October 2025
Malaysia’s financial system is quietly shifting gears again. The focus this month wasn’t on rates or reserves. It was on structure, supervision and stability. Bank Negara Malaysia (BNM) is tightening how credit is extended, how risks are priced and how financial data moves. Add in a handful of regulatory tweaks and consumer-facing changes and it’s…
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Russia Macro Brief: October 2025
Nails are now being whacked into the Russian coffin. UK, US and EU sanctions against Rosneft and Lukoil are a powerful blow. Chinese concessions are easier than you might think – but look to wider oil market factors. Russia’s decline continues, now accelerating. Recent Chinese concessions not to purchase crude from Russian suppliers are less…
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Why Washington Stepped In: Inside the $40 Billion Bailout
We’ve just seen the biggest US intervention in a foreign market in years and it happened in the middle of a government shutdown. Argentina didn’t just get a bailout. It got a guardian. The Mechanics: How the Money Moved Without Congress Officially, this isn’t a bailout. Washington calls it a currency-swap arrangement between the US…
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Argentina Macro Brief: October 2025
Power gained, independence lost Milei’s midterm win gives him the votes to drive reforms but at the cost of deeper US financial dependence. US bailout doubled to USD 40 billion, turning liquidity support into a full geopolitical backstop. Short-term rates spiked above 80 % as the BCRA struggled with liquidity after scrapping LEFIs.… Read the…
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Vietnam Macro Brief: October 2025
September total exports data is highly encouraging - Vietnam is on course to smash 2024 figures. Given US tariffs went into effect on 7th August we await specific data on exports to the US for September to tell us the full story, but we’re optimistic that tariffs have only slightly dented US-bound exports.… Read the…
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Philippines Macro Brief: October 2025
Benchmark rate cut again, in line with our expectations. A new Digital Taxation Act brings foreign providers into line with domestic on VAT. GDP growth forecasts affected by weakening domestic demand, and dampening sentiment. Defying market expectations, but concurring with our predictions, the BSP cut the benchmark rate again on 9th October.… Read the rest
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Chile Macro Brief: October 2025
Chile is heading into the last quarter of 2025 with the brakes on and the pressure building. The Central Bank has held rates, headline inflation is softening and the Peso remains steady despite global volatility. But the story just beneath the surface is shifting. Core inflation is proving stubborn, employment is barely moving and the…
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October 2025
BNP is turning up the pressure. Mirza Fakhrul Islam Alamgir is pushing parties to focus on elections instead of side issues like proportional representation. Meanwhile, the IMF has cut its growth forecast sharply to 4.9%, although inflation is finally starting to ease. Cash still rules - nearly 72% of all transactions - despite efforts to…
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October 2025
Three months on from our last report and Pakistan’s balancing act now looks more precarious than poised. The government is fighting fires on all fronts. Political, economic and environmental issues are all smouldering while it is trying to stop any sparks from flying that could ignite dissent. All this while it tries to project control…
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October 2025
Three months on from our last report and Pakistan’s balancing act now looks more precarious than poised. The government is fighting fires on all fronts. Political, economic and environmental issues are all smouldering while it is trying to stop any sparks from flying that could ignite dissent. All this while it tries to project control…