0500 GMT - The further easing in Indonesian inflation for October could be a factor for Bank Indonesia to cut rates this quarter, UOB economists Enrico Tanuwidjaja and Shaun Wirawan Susanto say in a note. They expect BI to cut the rate to 5.75% by end-2024, down from 6.0% currently. Other factors including the U.S. election and the Fed's coming policy meeting may also influence BI's rate decisions, they add. UOB also lowers its 2024 average inflation forecast for Indonesia to 2.5%, down from the previously expected 3.0%, given more subdued energy and food price pressures. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
November 05, 2024 00:00 ET (05:00 GMT)
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