Forex - Indonesia Preview: due 02-May - April inflation to hover near low end of the target range


 03:32 (GMT) 25 Apr

  [Economic Data]

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Indonesia Preview: due 02-May - April inflation to hover near low end of the target range (0101-KPTG-C01)

Indonesia is scheduled to report its April inflation on 2nd May, and we expect it to edge slightly higher to 2.55% y/y from 2.48% y/y in the preceding month. Structurally low food inflation still keeps headline inflation in check even as oil prices rose this month, and possible election spending supported household demand. The rupiah has been the strongest currency MTD in April against the USD, which also helps to keep imported inflationary pressures in check.

Inflation may see some upside pressures later in the year, but will still remain near the mid-point of the 2.5-4.5% target range for 2019. A softer Fed stance has removed the pressure from Bank Indonesia to hike further, but we expect the Bank to remain cautious about premature easing.


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