The Bank Indonesia (BI) Deputy Governor Dody Budi Waluyo said on Monday, the Indonesian central bank expects U-shaped recovery from COVID-19 pandemic.
Additional comments
“Q2 GDP seen within a range of -4% to -4.8% YoY.”
“Capital outflows from emerging market assets due to risk-off sentiment, investors fearing a prolonged downturn.
“Monetary expansion transmission to the banking system has not been smooth.”
Market reaction
Despite the downbeat remarks, the Indonesian rupiah keeps its recovery mode intact from fresh two-month lows of 14,855 reached against the US dollar earlier today.
USD/IDR was last seen trading at 14,814, still up 1.33% on a daily basis.
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