Economic Snapshot for ASEAN
March 25, 2020
The fallout from the coronavirus pandemic appears set to annihilate growth in ASEAN in H1, especially in export-oriented Malaysia, Singapore and Thailand. Strong fiscal policy responses and monetary policy easing should buffer the blow somewhat, however. The outlook this year predominately hinges on how long the virus will derail global economic activity.
ASEAN Monetary & Financial Sector News
Regional inflation was stable at 2.6% in February, according to preliminary data. Price pressures waned in the Philippines, Thailand and Vietnam, whereas inflation was higher in Indonesia. Regional inflation is projected to tick up this year due to lower borrowing costs and fiscal stimulus. Restrained economic activity and ultra-low oil prices skew risks to the downside, however.
ASEAN Economic News
-
Singapore: MAS eases monetary policy at its first semi-annual meeting in March
March 30, 2020
The Monetary Authority of Singapore (MAS) moved forward its biannual meeting to 30 March due to the Covid-19 pandemic.
-
Thailand: Manufacturing output drops for 10th-consecutive month in February
March 30, 2020
Manufacturing output dropped 5.2% year-on-year in February, down from the revised 4.0% contraction in the prior month (previously reported: -4.6% year-on-year) and marking the 10th consecutive month of falling production.
-
Singapore: Economy contracts in Q1 2020 due to Covid-19 outbreak
March 26, 2020
The economy contracted sharply in the first quarter of this year according to an advanced estimate.
-
Thailand: Bank of Thailand stands pat in second meeting in March
March 25, 2020
At its 25 March meeting, the Monetary Policy Committee of the Bank of Thailand (BoT) opted to stand pat and keep the policy rate at a historic low of 0.75%.
-
Thailand: Exports shrink in February
March 25, 2020
Thai exports dropped 4.5% year-on-year in February, swinging from January’s 3.3% increase, likely influenced by the Covid-19 pandemic depressing globe trade and economic activity.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
