Bank Indonesia maintains key interest rate through Q3 to support weak rupiah, with majority expecting Q4 rate cut.
Bank Indonesia, Indonesia's central bank, will maintain its key interest rate through Q3 to support the weak rupiah, with a Reuters poll revealing a slim majority expecting a Q4 rate cut. The bank unexpectedly raised its seven-day reverse repurchase rate in April to 6.25% and has since seen the rupiah gain over 1%, but a rate cut remains months away as the currency is down around 3.5% for the year.
May 20, 2024
3 Articles