As inflation eased to 5.47%.
According to BBVA, Indonesia’s exports in April fell by -9.1% y/y, (consensus: -7.4%; March: -12.9%) due to falling commodity prices, and the trade balance slumped back into deficit for the month, putting new downward pressure on the rupiah. Meanwhile, headline inflation eased modestly to 5.47% y/y (consensus: 5.6%) in May from 5.57% in April.
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