Category: Macro Briefs
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Brazil Macro Brief: May 2025
Another hike in the Selic rate, now at its highest since 2006. A slight drop in inflation. And a sharper-than-expected rise in unemployment. On trade, the government has imposed a range of protectionist tariffs to support domestic manufacturing, while concerns are mounting over the potential for Chinese goods to flood the market in the wake…
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Taiwan Macro Brief: May 2025
Taiwan’s financial system has remained relatively steady through April. The central bank has held the line on policy while nudging down growth expectations. The government’s focus on real estate credit and financial market stability has continued to shape the regulatory tone. The broader economic outlook remains healthy but not without its risks - especially as…
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South Korea Macro Brief: May 2025
South Korea has had one foot on the brake but simultaneously the other on the accelerator. Over the past month, policymakers have stepped up efforts to support a cooling economy but are still trying to maintain sight of the bigger picture. Rate cuts, market interventions, pension reforms – these are all part of a broader…
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India Macro Brief: May 2025
India’s financial landscape remained in motion throughout all of April. The Reserve Bank of India (RBI) continued to take centre stage. Fresh rate cuts, liquidity injections and regulatory shifts also signalled a clear intent: anchor financial stability, stimulate credit and shore up investor confidence amid rising external and geopolitical risks. Meanwhile, the rupee has come…
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Philippines Macro Brief: April 2025
A stable currency, low inflation, low unemployment and an increasingly business-friendly environment bode well for the Philippines. That said, President Trump’s tariffs do pose a potential challenge to the government’s ambitions to attract foreign investment, particularly given that 32% of FDI into ASEAN in 2023 came from the USA. Monetary Policy, Inflation & Interest Rates…
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Russia Macro Brief: April 2025
Plenty is being said elsewhere about the war in Ukraine, the USA’s involvement — or lack thereof — in peace negotiations, and the new US-Ukraine minerals agreements. Here, we focus instead on Russia’s economic landscape: some of it war-linked, some less so. A fresh wave of UK sanctions, the policy rate held at 21% again…
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Malaysia: Macro Brief April 2025
Malaysia’s economic policy landscape has stayed broadly stable over the past month - but not without pressure points. Bank Negara Malaysia (BNM) is holding its line on rates, the Ringgit remains fragile, and there are signs of tightening behind the scenes. At the same time, labour market resilience and the digital banking rollout continue to…
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Chile Macro Brief: April 2025
Chile heads into Q2 with the mood cooling and the ground shifting. The Central Bank has slammed the brakes on easing, with inflation pressures creeping back and the peso losing a bit of steam. Growth ended 2024 on a solid note — better than most had expected — but the momentum is clearly slowing.… Read…
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Vietnam Macro Brief: April 2025
Vietnam has long been a success story, consistently posting high GDP growth year after year, while absorbing a substantial portion of Western demand for manufacturing previously handled by China. However, the ongoing impact of President Trump’s Liberation Day tariffs, coupled with the USA’s significant trade deficit with Vietnam, raises concerns that Vietnam’s reliable growth trajectory…
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Argentina Macro Brief: April 2025
Argentina is turning the page. Currency controls are out, the peso is floating and inflation is finally easing. The central bank has started cutting rates, IMF cash is flowing and reserves are building. Overseas card use is back, though capital controls on businesses remain – for now. Early moves toward digital finance hint at deeper…