Dutch International: Iran-US agreement fails to stop Philippines and Indonesia from tightening policies.

Deepali Bhargava of the Netherlands International Group stated in a report that the peace agreement between the US and Iran is not enough to stop the tightening of monetary policies by the central banks of the Philippines and Indonesia. Decision-makers at the Philippine central bank are not taking the oil prices lightly, as they believe that the impact of oil price shocks may be more prolonged. The Asia-Pacific research director stated: "This suggests there are reasons to maintain a tightening bias, leaning towards taking small, incremental measures in the same direction to preserve policy credibility while limiting volatility." The Netherlands International Group stated that the unexpected decision by the Indonesian central bank to raise policy interest rates. However, Bhargava pointed out that the Indonesian central bank's decision underscored its clear policy priority of stabilizing the weakened Indonesian rupiah.