As China opens up its bond market, it is moving gradually toward using a market interest rate as a key instrument in its monetary policy. This should mean that bond yields become more important for financial conditions and growth in China and, over time, other parts of Asia-Pacific. S&P Global Economics has examined how changes in market expectations about China's monetary poli...
READAsia-Pacific is losing steam. One by one, the global growth drivers that gave us the synchronized regional upturn in 2017 have started to fall away. First to go was exceptionally easy external financing conditions, led by U.S. dollar interest rates. Second was buoyant demand growth in China as policy tightening rippled through the economy. Most recently, we saw a clear turn in ...
READGrowth continues to ebb and flow across Asia-Pacific but the cyclical tide is receding. We have long expected growth to slow for the region and it is the pace of the slowdown that is the key uncertainty. For now the data and economic policies, which at a global level are still broadly supportive, suggest a gradual and benign slowdown. Still, some forward thinking indicators, es...
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