ASEAN BUSINESS
Indonesia’s hawkish monetary stance; Vietnam not liking a gold rush
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This week in Asean:
- Vietnam: Holds first gold auction in 11 years to stabilise market
- Indonesia: Hikes rate to cushion falling rupiah
- Malaysia: Plans to build South-east Asia’s largest chip design park
- Thailand: Welcomes another China EV player to set up a production plant
Dear BT reader,
On Wednesday (Apr 24), Indonesia’s central bank surprised the market with an off-cycle raise of its benchmark interest rate by 25 basis points to 6.25 per cent to support the battered rupiah.
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