Daily Market Report (23 Aug 2019)
Fri, Aug 23, 2019 8:56 AM
- Indonesia is the latest to reduce interest rates with a 25bps cut to 5.5% yesterday. Nonetheless, we do not expect Malaysia to jump into the bandwagon anytime soon.
- Indonesia apart from the Philippines has been the more aggressive in hiking their interest rates last year in tandem with the Feds tightening stance from 4.25% to 6% while the Philippines from 3% to 4.75%.
- As for Malaysia, Bank Negara only hiked its rates from 3% 3.25% during the same period hence the propensity to reduce rates is very much lesser.
