Barclays: Indonesian and Philippine Central Banks Unlikely to Ease Policies Further

Barclays economists have reported that Indonesia and the Philippines are unlikely to further ease their monetary policies. According to Jin10, the strengthening of the U.S. dollar due to Middle Eastern conflicts is expected to put pressure on the Indonesian rupiah. Barclays' baseline forecast suggests that the Indonesian central bank may not be able to lower interest rates on Tuesday, as well as in June and December. Similarly, the Philippine central bank is anticipated to act cautiously due to inflation concerns, refraining from further rate cuts. However, it is also unlikely to raise rates, as consumer inflation is projected to remain below 4% this year, even if Brent crude oil prices reach $100 per barrel.