Bank Indonesia held its key interest rate for a seventh straight meeting, citing risks from the global economy as growth slows.
Glenn Maguire , chief Asia economist at Societe Generale SA in Hong Kong, comments on odds of a one- off revaluation in the yuan. He was speaking in a Bloomberg Television interview.
Chinese officials are likely to “tolerate” banks breaching the nation’s 7.5 trillion yuan ($1.1 trillion) loan target for 2010 to sustain growth as the economy cools, Societe Generale SA says.
Thailand’s prolonged political crisis is raising the risk that the nation will be the only one of Southeast Asia’s biggest economies to slide into a recession this year, undermining its allure as a manufacturing center.
China’s pledge to make the yuan more flexible may boost shares denominated in the currency when markets open tomorrow, China International Capital Corp. and Societe Generale SA said.
Indonesia’s central bank held its key interest rate for a sixth straight meeting and said it will keep a tight monetary policy stance, seeking to contain a widening current-account gap.
Chinese manufacturing data due in four days could jolt global markets by showing the first contraction in 17 months, according to analysts at Societe Generale SA and Westpac Banking Corp.
Malaysia’s ringgit reached a five- month high and the benchmark stock index climbed to a record after the nation’s economic growth and current-account surplus beat forecasts.
Central bankers in London and Jakarta will probably conclude this week that inflation poses little threat as they choose to keep borrowing costs unchanged.
"Until there is further clarity on the political situation, stability in rates is favored to change."
- Glenn Maguire on Jul 10, 2014