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China+ Publications

Below is a list of our China+ Publications for the last 6 months. If you are looking for reports older than 6 months please email info@pantheonmacro.com, or contact your account rep

Please use the filters on the right to search for a specific date or topic.

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26 Nov 2021 An Expected Hike from the BoK, and Now a Long Pause

  • The Bank of Korea hiked as expected, taking the policy rate to 1.00%, from 0.75%.

    Further hikes were made conditional on a plethora of factors, providing plenty of wriggle room.

    We expect a pause until mid-2022, as Covid cases spike, and with an election looming in March.

Craig BothamChina+

13 Oct 2021 A Hawkish Hold, but Future Hikes Likely to be Interrupted

  • The BoK struck a hawkish note despite holding rates, strongly suggesting a November hike.
  • Household debt remains the focus of policy, but there's a risk of complacency over growth.
  • China is still deteriorating, and data over the next fortnight will be just a taste.

Craig BothamChina+

CHINA+ DATA WRAP 12.10.21

  • No back to back hikes from the BoK, but a November hike is all but assured

    Renewed market intervention a possibility

Craig BothamChina+

27 Aug 2021 The BoK Takes a Calculated Risk, to Re-focus on High Household Debt

  • The Monetary Policy Board kicked off normalisation yesterday with a 25-basis point hike, to 0.75%.
  • Korea still is deep in the Covid woods, especially as protection from prior infection is very low...
  • ...But rapid jabs give the BoK room to manoeuvre, and re-focus towards curbing financial imbalances.

Freya Beamish (Chief Asia Economist)China+

16 July 2021 Data are Conflicting, but we Think China's Growth Slowed in Q2

Sometimes when you put together the Chinese data, it feels like you are drawing from multiple jigsaw puzzles, each with pieces missing.

Freya Beamish (Chief Asia Economist)China+

China+ Datanote: PBoC MLF Injection; BoK Decision, July 2021

In one line: The PBoC’s smaller MLF injection confirms that the RRR cut was not an easing.

Freya Beamish (Chief Asia Economist)China+

CHINA+ DATA WRAP 15.7.21

Jury still out on Q2 GDP growth.

Retail sales stabilised in June, but the recovery remains on hold.

Industrial production still lacks infrastructure drivers.

Infrastructure spending will soon turn around.

Home price rises holding up against slowing loan growth.

The PBoC’s smaller MLF injection confirms that the RRR cut was not an easing.

2021 BoK hike remains on the table, despite recent Covid spike

Freya Beamish (Chief Asia Economist)China+

China+ Datanote: BoK Decision, Korea, May 2021

In one line: Mr. Lee doesn’t say no to a rate hike this year

Freya Beamish (Chief Asia Economist)China+

26 May 2021 The BoK's Job is to Play it Cool While Uncertainty Remains High

The BoK looks set to remain in a holding pattern, paying lip service to financial imbalances, from housing, to Bitcoin, for the remainder of this year, though a hike still looks likely early in 2022. 

Freya Beamish (Chief Asia Economist)China+

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Keywords for: China+ Documents

China+ Document Vault, Pantheon Macro, Pantheon Macroeconomics, independent macro research independent research, ian shepherdson, economic intelligence