Economics
Indonesia, Philippines Set to Hold Rates With Outlook Dim: Guide
- Two central banks have been among Asia’s big cutters in 2020
- Southeast Asian nations face difficult economic recovery paths
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Central banks in Indonesia and the Philippines are expected to keep their key interest rates steady Thursday, letting recent reductions filter through economies facing difficult recoveries.
The two banks have been among Asia’s most aggressive rate cutters this year, as their nations are grappling with the worst coronavirus outbreaks in Southeast Asia and their economies have plunged into recession. Policy makers have also used other tools such as lowering reserve requirement ratios and buying bonds to stimulate their economies.