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- USD/IDR Price News: Rupiah hits daily highs near 14,050 on Bank Indonesia’s status-quo
USD/IDR Price News: Rupiah hits daily highs near 14,050 on Bank Indonesia’s status-quo
Indonesia’s central bank, Bank Indonesia (BI), announced no changes to the benchmark 7-day reverse repo, leaving it at 3.50% during the October monetary policy meeting held this Tuesday.
The central bank governor Perry Warijyo said that “global economic recovery is expected lower than previously estimated due to rising cases of COVID-19, higher energy prices.”
Additional comments
Global recovery to continue in 2022 but disruption in global supply chain needs to be monitored.
Domestic economy shows continued improvement after COVID-19 curbs eased.
Domestic economic recovery supported by high exports, improving consumption after easing COVID-19 restrictions.
Keeps 2021 GDP growth outlook at 3.5% to 4.3%.
Q3 current account balance seen in surplus.
Continue to make sure rupiah reflects fundamentals.
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