Rising inflationary pressures in the Philippines mean the country’s central bank is likely to raise interest rates by 50bp at its meeting next week. Bank Indonesia is also likely to raise rates, but probably by just 25bp. Meanwhile, the region’s financial markets have shrugged off the latest round of US tariffs on China. Most equity markets have ended the week flat. Finally, the plans unveiled over the past week by the leaders of North and South Korea to develop infrastructure projects as well as re-open the Kaesong Industrial Complex will come to nothing until the North makes more progress towards denuclearisation.
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