Gradually improving euro area lending supports TLTRO demand

Jun 11, 2015 11:54 am UTC| Commentary

The weakness in EA monetary aggregates and bank lending dynamics have been a drag for the EA recovery, largely reflecting the deleveraging and balance sheet repair in the private sector - a process that it is not complete....

ECB's TLTRO 4.0 feeding rising loans demand

Jun 11, 2015 11:41 am UTC| Commentary

On 18 June, the ECB will conduct its fourth TLTRO (targeted longer-term refinancing operation). At the previous three operations, the ECB allotted a total of 310bn. A take-up of about 80bn at the upcoming operation. This...

China faces slower growth and rising NPLs

Jun 11, 2015 11:26 am UTC| Commentary

China is heading for slightly slower GDP growth than in 2014. In the current slower-growth period, increasing non-performing loans (NPLs) are expected to seen as a consequence of past excesses in credit growth, says...

Not all Malaysia's external debt is created equal

Jun 11, 2015 11:00 am UTC| Commentary

Malaysias external debt metrics have worsened most notably since 2007. This has, however, been more driven by Malaysias rise as a key component inmost international bond benchmark indices, which led to a spike in foreign...

Indonesia’s external-sector risks as FOMC hikes approach

Jun 11, 2015 10:58 am UTC| Commentary

Indonesias current account deficit has reduced the degree of freedom for policy makers to support growth. Bank Indonesia (BI) has instead had to focus on deficitfinancing through keeping interest rates high, thus slowing...

Korean supplementary budget likely to follow within a few weeks

Jun 11, 2015 10:43 am UTC| Commentary

The Korean government is expected to announce a plan for a supplementary budget this month, to be included in the second-half economic policy guidelines. Monetary easing through the BoK rate cut and fiscal easing through a...

MERS key driver of BoK rate cut in June

Jun 11, 2015 10:36 am UTC| Commentary

Concerns on the negative impacts of MERS (Middle East Respiratory Syndrome) provide further support for the additional monetary and fiscal easing measures that was already anticipated from BoK before the MERS outbreak. The...