S&P: No meaningful contagion yet for Asia-Pacific from US banks and Credit Suisse turmoil
S&P Global Ratings is out with its review, assessing the economic recovery risk of Asia-pacific, in the facing of the global banking crisis.
Key takeaways
“Growth in annual real GDP in Asia-Pacific will average at the mid 4% level over the next few years.”
“Have yet to see any meaningful contagion for Asia-Pacific from the turmoil of US regional banks and Credit Suisse.“
“For Asia-Pacific net rating outlook bias remains steady at negative 3%; downside risks are worsening.“
“Base case is for China's economy to recover in 2023, and most other Asia-Pacific geographies in 2024.”
“We assess the economic recovery risk of Asia-Pacific as high and unchanged.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
