- The “Liberation Day Tariff” rolled off provide ST relief, but considerable anomaly in UST yield points to emerging risk factors.
- Narrowing the trade gap with the US could strengthen Indonesia’s position, though key US export still present notable challenges.
- Focus is expected to return to domestic growth trends, with both supply- and demand-side policies likely to provide continued support.
HIGHLIGHTS
- De-escalation for Now
- Narrowing the Trade Gap: How Challenging Is It?
- Spotlight Returns to Domestic Growth Outlook.
- Capital Market – External Volatility Risk
- Fixed Income Flow
- State Sharia Securities (SBSN) Auction Announcement – April 15, 2025
This Week Key Focus
- China Trade Balance reached USD102.6bn in March 2025
- China GDP Growth – 1Q25 (Wednesday)
- Indonesia FX Reserve surged to USD157.1bn in Mar-25
- Indonesia Consumer Confidence (Tuesday) and Retail Sales – March 2025
Last week Key Events
GLOBAL UPDATES
- Trump pause higher reciprocal tariff for 90 days for all countries except China and exempt some electronics from the tariff
- US Core Inflation eased to 2.8% y-y in Mar-25
DOMESTIC UPDATES
- Indonesia posted a 1.03% y-y inflation in Mar-25 (+1.65% m-m)
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