Indonesian inflation eased to 3.23%, inside Bank Indonesia's target band, and the Jakarta Composite still fell 3.8% as foreign investors sold ahead of an index review. Turkey's inflation held at 29.77% after its first rate cut since January.
TurkStat's October CPI stalled Turkey's disinflation just days after the central bank's first rate cut since January, leaving the 36% policy rate well above a still-sticky 30% price path. Source
Nothing in Indonesia's inflation data explains Tuesday's sell-off. Statistics Indonesia (BPS) reported October CPI at 3.23% year-on-year (Reuters poll: 3.29%; previous: 3.28%), and core inflation slowed to 2.56% (forecast: 2.75%; previous: 2.84%). Headline inflation sits inside the target band set by Bank Indonesia (BI), which is 2.5% plus or minus 1 percentage point. The Jakarta Composite fell 3.8% to 4,904 anyway, and one regional market wrap had it down 43% for the year.
