Indonesia
Bank Indonesia will announce its policy decision Wednesday and is widely expected to hold rates steady after two consecutive cuts. The central bank has stepped in to stabilize the rupiah and may pause for further easing until volatility subsides, Maybank analysts Brian Lee Shun Rong and Chua Hak Bin wrote. They added that the central bank is also deploying liquidity tools such as government-bond purchases and short-term securities for further support.
Maybank still expects 50 basis points of additional cuts by year-end, bringing the benchmark rate to 5% in 2025 and 4.5% by end-2026, in line with expectations of a weaker greenback amid anticipated Fed rate cuts.
Taiwan
Taiwan's central bank will announce its quarterly policy rate decision Thursday, with economists unanimously expecting rates to be held steady. Inflation pressures have been moderate, while growth remains strong thanks to robust external demand.
ANZ recently lifted its full-year GDP growth forecast for Taiwan to 6.2% for 2025. Markets will look for signals on the timing of future cuts. Barclays economists see the earliest window for easing in December, followed by two more cuts in the first half of 2026.
India
India's August trade data is the main focus this week as new U.S. tariffs cast a shadow over the economic outlook. While the overall hit may be limited for the largely domestic-driven economy, ING economists caution that India can't afford to downplay its reliance on the U.S., which accounts for 21% of its total exports. Labor-intensive sectors such as textiles, leather and jewellery are especially vulnerable given thin margins and price-sensitivity, ING said.
ING also doubts Asia can absorb the shortfall, noting that India's trade with the region has been shrinking. Markets will be watching for signs in August's data that tariffs are already affecting flows.
Also on Monday, wholesale price index figures for August will offer another gauge of inflation, which has been on a steady cooling trend.
Singapore
Singapore will publish its August non-oil domestic exports on Wednesday. July's exports fell 4.6% from a year earlier, and markets are watching for signs of a rebound. Barclays expects growth to have picked up in August due to a favorable base effect, though sequential momentum likely remained weak.
Malaysia
Malaysia will release August's trade data. Barclays expects export growth to have slowed after July's surprise strength, narrowing the trade surplus.
Looking ahead, exports may remain on choppy waters as risks shift from reciprocal tariffs to product-specific measures. U.S. President Trump's proposal for "fairly substantial" tariffs on semiconductor imports poses a threat for Malaysia, a key global supplier, TA Securities analyst Chan Mun Chun noted.
Any references to days are in local times.
Write to Jessica Fleetham at jessica.fleetham@wsj.com and Jihye Lee at jihye.lee@wsj.com
(END) Dow Jones Newswires
September 14, 2025 20:14 ET (00:14 GMT)
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