BENGALURU : Bank Indonesia (BI) will keep its key interest rate unchanged at 5.75 per cent next week and leave it there for the rest of the year as inflation is set to remain within the central bank's 2-4 per cent target range, a Reuters poll of economists found.Headline inflation in Southeast Asia's larg
BENGALURU : Bank Indonesia will keep its key interest rate unchanged at 5.75 per cent next week and leave it there for the rest of the year as inflation is set to remain within the central bank's 2-4 per cent target range, a Reuters poll of economists found.
The currency is up about 4 per cent for the year against the dollar but has come under pressure after recent hawkish comments by Fed officials pointing to more U.S. rate hikes, suggesting BI would remain cautious in its monetary policy. "Governor Perry Warjiyo's latest comments continue to suggest the central bank is wary of cutting its policy rate prematurely, lest this trigger a backlash against the IDR if global risk sentiment sours," noted Brian Tan, an economist at Barclays.
But median forecasts in the poll showed a 25-basis-point rate cut to 5.50 per cent in the first quarter of 2024.
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