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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
INDONESIA
Indonesia’s CPI inflation for October was close to the Bloomberg consensus. Inflation remains moderate and within Bank Indonesia’s target band for 2023 and 2024 but that may not be enough to prevent a further rate hike to attract portfolio flows and contain imported inflation. Today USDIDR has jumped to 15950 as the market waits for the upcoming Fed decision. This is close to the October high, which will not be welcomed by BI. The next meeting is November 23.
- Headline printed in line with consensus at 2.6% y/y up from 2.3% due to higher food and transport inflation. Core inflation was slightly lower than expected at 1.9% down from 2% in September, the lowest since January 2022. It is now slightly below the bottom of this year’s 2-4% target band but it shifts down to 1.5-3.5% for 2024.
- Food, drink & tobacco saw a pickup in October to 5.4% y/y from 4.2%. Transportation rose 1.2% y/y up from 1% but utilities edged lower to 1.2% from 1.3%. Most other components were steady or down slightly.
Indonesia CPI y/y%
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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