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Thailand has welcomed 9.47m foreign tourists so far this year, generating about 391bn baht (US$11bn) of revenue
China's new home prices rose for the fourth straight month in Apr but at a slower pace
China's Apr industrial output and retail sales growth undershot forecasts, suggesting the economy lost momentum at the beginning of the second quarter
China's Apr industrial output and retail sales growth undershot forecasts
The Philippine central bank has no reason to raise interest rates further
The cost to borrow overnight in Hong Kong jumped to a 16-year high as official efforts to enforce the city’s currency peg with the US dollar cascaded
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17 May 2023
Malaysia - Economics - T20 power and diesel subsidies next in line
High consumption domestic consumers are the next in line for electricity subsidy cuts when the ICPT is revised for Jul-Dec 2023. The government expects to save RM8bn in electricity subsidies this year, translating into +0.3% pt to headline inflation, which has been factored into our base case. Meanwhile, the existing diesel subsidy system will be tweaked to reduce leakages, implying minimal inflation risk and potential for fiscal savings as consumption volumes are curbed. We expect headline and core inflation to fall within the official forecast range of 2.8%-3.8%. Upside risk to the endyear OPR forecast (CIMB: 3.00%) is centered on broader administered price adjustments (like RON95) and greater demand pull inflation.Read More