Indonesia

Executive Summary Favor ASEAN And The Philippines Favor ASEAN And The Philippines…

Executive Summary Indonesia’s Balance Of Payments Will Be Under Pressure Indonesia's Balance Of Payments Will Be Under Pressure…

Highlights Indonesian domestic demand is struggling to recover in the face of a very tight policy settings. Exceptionally high real borrowing costs continue to hurt non-financial sectors. This will hurt banks too as credit is stymied and NPLs rise. Equity investors should fade the rebound…

Highlights The surge in energy prices going into the Northern Hemisphere winter – particularly coal and natgas prices in China and Europe – will push inflation and inflation expectations higher into the end of 1Q22 (Chart of the Week).  Over the medium-term, similar excursions into the far…

Highlights The rapid spread of the COVID-19 delta variant in Asia will re-focus precious metals markets anew on the possibility of another round of lockdowns and the implications for demand, particularly in Greater China and India, which account for 33% and 12% of global physical demand for…

Highlights Indonesian domestic demand is struggling amid tight policy setting. Exports will weaken too, as the Chinese money and credit impulses have rolled over. Slowing Chinese impulses are negative for the rupiah as well. An impending change in the central bank mandate will also add to…