If the central bank also expects a second-quarter rebound then its focus should stay on inflation and weak JPY as a main contributor, they said. INDONESIACentral bank policymakers in Indonesia are widely expected to keep rates on hold on Wednesday after a surprise rate hike at its last meeting. The rupiah clawing back some ground versus USD should provide some reprieve to Bank Indonesia and let it leave the policy rate unchanged, Barclays economists said. UOB economists expect sluggish growth momentum to persist, weighed by weak domestic demand. This could lead the central bank to recalibrate its monetary policy for the rest of 2024, they added.

Source: Wall Street Journal May 20, 2024 04:20 UTC