According to Jinshi Data, the central bank's actions have attracted market attention. OCBC strategists recommend that Thailand maintain interest rates unchanged and Indonesia cut interest rates. At the FOMC meeting, the rate cut seems to be certain, and the market is paying attention to the updated dot plot guidance.
Strategists pointed out that the September dot plot showed four rate cuts in 2025, but the market expected only two. If the dot plot showed two or fewer rate cuts, the market might see it as hawkish and the dollar might strengthen. Three rate cuts were seen as less hawkish and could ease pressure on ASEAN currencies. If there were still four rate cuts, the dollar was expected to weaken.