S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketCommerzbank’s Dr. Henry Hao and Moses Lim note that Indonesia March CPI slowed to 3.5% year-on-year, back within Bank Indonesia’s (BI) target range, but warns that Middle East conflict and higher freight costs pose upside inflation risks. Despite softer inflation, BI is expected to keep its policy rate at 4.75% and has removed its easing bias as USD/IDR trades above 17,000 amid weaker sentiment.
Inflation normalises but risks persist
“Looking ahead, inflation should continue to normalise in the coming months.”
“However, a prolonged conflict in the Middle East poses upside risks through higher freight costs, supply chain disruptions, and precautionary inventory build-up, even as fuel subsidies remain in place.”
“On monetary policy, BI is expected to keep the policy rate unchanged at 4.75% at the 22 April meeting.”
“At its March meeting, BI turned more cautious, removing its easing bias.”
“This shift reflects rising IDR volatility, with USD/IDR rising above the 17,000 level last week.”
