BI and BSP to maintain policy at their next meetings? - ING
|According to analysts at ING, Bank Indonesia (BI) and Bangko Sentral ng Pilipinas (BSP) can keep the powder dry as pressure on EM eases off in October.
Key Quotes
“The BI’s governing board meets on 23 October with the latest comments from Governor Warjio pointing to improved confidence in the currency on as he believes the “supply and demand in the forex market run quite well and the IDR rate shows stable movement”. With economic data helping to boost sentiment and with the IDR relatively stable, the BI may afford some breathing space to hold off the policy tightening for a while.”
“The BSP’s next policy meeting is scheduled in mid-November. There has been a growing chorus of Philippine monetary policy officials singing dovish tunes of late.”
“The EM space has faced a rocky September but for most of October pressure appears to have abated to some extent, affording central banks some breathing room to allow their policy initiatives so far to bear fruit and economies to regain their growth momentum while keeping the powder dry for possible rate hikes (25 basis points) to close out 2018.”
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