November 05, 2024 04:13 GMT
INDONESIA: GDP Surprises to the Downside.
INDONESIA
- Indonesia’s third quarter release today was lower than the market expected.
- At +4.95% it was moderately below expectations of +5.00%, and the prior print of +5.05%.
- The QoQ number declined also to +1.50% from 3.79% for the previous quarter.
- The Central Bank left rates on hold at their last meeting on October 16,
- In the data releases since, CPI has continued to moderate.
- The GDP miss today is moderate and likely not enough to indicate a rate cut at the next Central Bank meeting on November 20.
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