* Indonesia rupiah strengthens, cenbank policy decision on Tuesday * The Philippine cenbank governor signals further rate cuts * Interactive graphic tracking global spread of coronavirus: open tmsnrt.rs/3aIRuz7 in an external browser (Adds text, updates prices) By Nikhil Nainan April 13 (Reuters) – The Indonesian rupiah was one of two emerging Asian currencies to drift higher on Monday in the run-up to a policy decision, while broader markets grappled with the economic damage from the coronavirus that pushed many countries to enforce shutdowns. While a small majority expect Bank Indonesia (BI) to keep its benchmark rate on hold on Tuesday, the central bank is likely to weigh the pressures forced upon the country by the pandemic and that of the volatility it has caused to its currency. The International Monetary Fund had warned last month that the pandemic has already driven the global economy into recession and countries must respond with “very massive” spending. “Rate cuts alone are not going to matter. Demand in the system cannot come back because of a rate being cut by 25 or 50 basis points. You need measures that will basically keep the system running and not collapse,” said Sunil Kalra, a portfolio manager… Read full this story
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