Southeast Asian central banks signaled strong policy action

The U.S. Senate voted to acquit President Donald Trump on charges he abused his power and obstructed Congress, ending a historic, bitterly partisan fight and leaving the final judgment on his actions up to voters in November. Trump became the third U.S. president to escape removal from office after being impeached by the House in December. Utah Senator Mitt Romney was the only Republican on Wednesday to break with his party and find Trump guilty of seeking a political favor from the Ukrainian government. He voted to clear the president of the obstruction charge. (Bloomberg)

Southeast Asian central banks signaled strong policy action Wednesday to counter a hit to their economies from the new coronavirus. The Bank of Thailand cut its benchmark interest rate to a record-low 1%. Singapore policymakers indicated there was room for further easing in the currency, sending the local dollar to its weakest level in four months. The Philippines underscored its willingness to ease policy, with Governor Benjamin Diokno saying in an interview that it was better to cut rates sooner rather than later to curb the virus impact. (Bloomberg)

Source: Danareksa Sekuritas Debt Research
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