East Asia Today

China's credit data remain weak, and deposit trends point to deflation risk in 2027. BOJ Koeda's speech was hawkish. Korea money supply growth slowed, and with equities falling, FCI has tightened. That market nervousness on AI isn't shared by TSMC management, and the labour market remains tight.

Paul Cavey

Oct 15, 2026 • 3 min read

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East Asia Today

Exports across the region have been extraordinarily strong through September. Along with trade, inflation data for China show external factors remain the strongest dynamic in China's overall cycle. YoY money supply growth in Japan slowed last month.

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China – external boost

That external factors continue to be the driving force of China's cycle dynamics was once again evident in the strength of both exports and PPI inflation in September. The combination puts a floor under overall nominal growth, and makes it unlikely that domestic policy becomes more aggressive.

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East Asia Today

Regional import price inflation has eased, but will likely rebound before year-end. Export price inflation is accelerating, being lifted by chips and other AI-tech. Consumer price expectations and bank lending in Japan remain strong. Taiwan tax revenue is growing by 20% YoY.