Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

PK Basu has 35 years experience covering Asia's economies and markets (equities, fixed income and currencies), including 20 years covering the global economy. He was Chief Economist (SE Asia & India) at Credit Suisse First Boston for 5 years, and Chief Asia (x-Jpn) Economist at Daiwa Securities for a similar period. Among other roles, he was global head of research at Maybank Kim Eng, Malaysia equity research head and chief ASEAN economist at Macquarie, Chief Economist at ICICI Securities, ASEAN economist and Asia sector strategist at UBS and the first chief economist at Khazanah Nasional (where he was co-head of research, and led all agri-business initiatives). PK Basu started his career in the Asia Service of WEFA (Wharton Econometrics) in Philadelphia in 1990, rising to be Director of their Asia Service in June 1994. 
PK's book, "Asia Reborn: A continent rises from the ravages of Colonialism and War to a New Dynamism" won the Tata Literature First Book Award (non-fiction) for 2018. It is the first single chronicle of the modern economic and political history of the whole of Asia (from Iraq and Turkey to Korea and Japan, and everything in between), told from an Asian perspective.

Chief Economist & Political Strategist

US: You Ain't Seen Nothin' yet on the Impact of the Trump Tariffs

Regional Economics: Is the U.S. Trade War Coming for Services?

US: Inflation Edges Up, but Previous Policy Errors Must Be Atoned with Rate Cut Now

US: Politics Is Clouding the Ability to Make Rational Monetary Policy

US: Subdued Inflation to Oblige a Reluctant Fed to Cut This Month, but No More in '25

US: Tariff Deals with Japan, EU, Indonesia, Philippines Sharply Reduce Stagflation Risk

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Macroeconomics

<ul>
<li>With CPI inflation at 2.7%YoY in Jun-Jul'25, and PCE inflation at 2.6% in June, a belated rate cut is highly probable at the next FOMC meeting in Sep'25. </li>
<li>Declining oil prices (-9.5%YoY in Jul'25) were a major factor enabling headline inflation to stay well-contained, alongside mild M2 growth (just +4.7%YoY as of Jun'25). </li>
<li>Base effects will cease to be helpful after Oct'25, as oil prices had declined from Nov'24. Tariffs pushing headline PCE inflation toward 3%YoY will preclude further rate cuts.  </li>
</ul>


With CPI inflation at 2.7%YoY in Jun-Jul'25, and PCE inflation at 2.6% in June, a belated rate cut is highly probable at the next FOMC meeting in Sep'25. 
Declining oil prices (-9.5%YoY in Jul'25) were a major factor enabling headline inflation to stay well-contained, alongside mild M2 growth (just +4.7%YoY as of Jun'25). 
Base effects will cease to be helpful after Oct'25, as oil prices had declined from Nov'24. Tariffs pushing headline PCE inflation toward 3%YoY will preclude further rate cuts.  


Dow Jones Industrial Average (INDU INDEX)

iShares S&P US Banks UCITS ETF (BNKSF US)

US: Rate Cut Imminent at Last, but Chances of More Are Slim as Oil's Benefits Fade