We forecast further recovery for APAC cities in 2022, but clearly with some big risks
We project that Asia Pacific’s 25 leading cities experience on average 4.5% GDP growth in 2022, and 4.1% over the five years 2022-26, although there is of course considerable economic uncertainty at present.
What you will learn:
- Bengaluru and Ho Chi Minh City top our growth league, with other major Indian cities also among those forecast to do well.
- Indian Covid-19 responses are improving, and the cities are labour-rich.
- China’s top cities tend to cluster around the average of our forecasts. Partly this reflects their size—they play a big role in determining what the average is.
Monetary policy in ASEAN shifts focus
With the US Fed expected to remain on hold for a prolonged period, rate decisions in Asia are likely to become more idiosyncratic. We discuss the actions of three central banks, namely Bank Indonesia (BI), Bank Negara Malaysia (BNM), and the Bank of Thailand (BOT).Find Out More
BoJ to allow 10-year JGB yields to exceed 1%
The Bank of Japan (BoJ) left short- and long-term policy rates unchanged at -0.1% and around 0%, respectively, at the meeting on Oct.31. However, the BoJ decided to tweak the yield curve control (YCC) policy by setting the upper bound of 1% as a reference and by making its Japanese Government Bond (JGB) purchase operations more flexible not to rigidly defend the bound.Find Out More