Not going to be a good day for the Indonesian-focused ETF IDX or the bigger Indonesian stocks that trade in the United States like Indonesia Telecom (TLK) or Indosat (IIT). Indonesian monetary authorities surprised global investors overnight by raising local interest rates a quarter of a percentage point in order to curb inflation. And over in , prime minister Manmohan Singh is selling more inflation concerns to his people, saying that rising prices represent “a serious threat” to economic growth going forward.India Indian stocks, as it happens, are down again today.