Fx News

Indonesia: BI keeps rates unchanged, as expected – UOB

UOB Group’s Economist Enrico Tanuwidjaja and Junior Economist Agus Santoso remark on the modern day pastime price selection by way of the Bank Indonesia (BI).

Key Takeaways
“Bank Indonesia (BI) saved its benchmark coverage fee (7-Day Reverse Repo) unchanged at 5.75% in Apr’s MPC meeting, in line with consensus expectation.”

“BI stays of the view that inflation expectations are anchored and decrease than preceding expectations, and that rupiah balance will continue. Specifically, BI expects that headline and core inflation quotes have lower back to BI’s target vary of 2-4% from its very best degrees in Sep remaining year.”

“In line with IMF forecast, outlook for Indonesia’s economic system and economic markets and rupiah steadiness has improved. We are retaining BI fee to remain at present day stage of 5.75%, with the opportunity of a 25bps fee reduce in early 2024.”

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