31 July, 2018
By Michelle Chia, Economist, CIMB Research and Economic and Lim Yee Ping, Economist, CIMB Research
HIGHLIGHTS Dusting off the old playbook for SST 2.0 Sales Tax rates of 5% and 10%, and Service Tax of 6% proposed under SST 2.0. Taxable goods and services shrink from 60% of CPI
30 July, 2018
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic
HIGHLIGHTS No revision to State Budget 2018 (APBN 2018) With 1H18 fiscal deficit remaining healthy at -0.75% of GDP (vs. full-year target of 2.19% of GDP), the government has decided not to revise its
26 July, 2018
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic
HIGHLIGHTS July 2018 BI meeting Bank Indonesia kept its 7-day Reverse Repo Rate (7DRRR) at 5.25% after the 100bp increase in May-June. BI sees the weaker net export position as a drag on overall
24 July, 2018
By Michelle Chia, Economist, CIMB Research and Economic and Lim Yee Ping, Economist, CIMB Research
HIGHLIGHTS June 2018 consumer price inflation Both headline and core inflation decelerated sharply in June (+0.8% yoy and +0.1% yoy, respectively) following the zero-rating of GST on 1 June. All but transport components saw
23 July, 2018
By Michelle Chia, Economist, CIMB Research and Economic and Lim Yee Ping, Economist, CIMB Research
HIGHLIGHTS June 2018 trade Total trade growth eased in June on the back of fewer working days, while moderating import growth brought the trade balance back to a surplus of US$1.7bn. Export growth was
20 July, 2018
By Michelle Chia, Economist, CIMB Research and Economic and Sofea Azahar, Economist, CIMB Research and Economics
HIGHLIGHTS 2Q18 GDP growth (advance estimates) Singapore’s economy lost speed in 2Q18, expanding 3.8% yoy (+4.3% yoy in 1Q18) and 1.0% qoq SAAR (+1.5% qoq SAAR in 1Q18). While manufacturing remains a key engine
18 July, 2018
By Michelle Chia, Economist, CIMB Research and Economic and Lim Yee Ping, Economist, CIMB Research
HIGHLIGHTS 2019 Budget Consultation Fiscal reforms in Budget 2019 are aimed at promoting sustainable, equitable and inclusive growth while ensuring credibility, accountability and transparency. Cost cutting is not the government’s only focus, as economic
16 July, 2018
By Michelle Chia, Economist, CIMB Research and Economic and Lim Yee Ping, Economist, CIMB Research
HIGHLIGHTS July MPC meeting: Staying the course The Overnight Policy Rate (OPR) was held at 3.25% for the third meeting in a row, policy continuity was signalled under new BNM governor Datuk Nor Shamsiah.
9 July, 2018
By Michelle Chia, Economist, CIMB Research and Economic and Lim Yee Ping, Economist, CIMB Research
HIGHLIGHTS May 2018 trade Despite a sharp fall in total trade, the trade balance remained healthy at RM8.1bn Trade activity likely suffered from a high base and the 14% yoy decline in working days
5 July, 2018
By Michelle Chia, Economist, CIMB Research and Economic; Lim Yee Ping, Economist, CIMB Research and Economics; Sofea Azahar, Economist, CIMB Research and Economics
HIGHLIGHTS 2H18 Outlook: A summer of discontent The resilience of the global economy will be tested by tightening monetary conditions, risks of greater international trade and investment friction, and geopolitical uncertainty. Markets have become
