According to the latest note published by the HSBC Analysts, Bank Indonesia (BI) is likely to extend the coronavirus support measures by reducing the key interest rate at its monetary policy meeting due later this week. Key quotes “Given BI’s growing programme of outright bond purchases, we believe BI should maintain a cautious policy stance. That said, with growth undershooting BI’s estimate in 1Q and signs of an accelerating spread of COVID-19 domestically, the central bank will be under pressure to deliver some support for the economy. We expect BI to deliver a 25bp cut in 2Q, likely in the 20 May meeting, followed by a 25bp reduction in 3Q vs. the previous expectations of 50bps cuts in 2Q. We continue to see a further 100bp reduction in the IDR Reserve Requirement Ratio as BI endeavors to use all measures to facilitate the financing of a larger budget deficit.” USD/IDR Price News: Indonesian rupiah struggles for direction near two-week low FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD regains 1.2100, off seven-week low, as virus news show light at the end of tunnel FX Street 2 years According to the latest note published by the HSBC Analysts, Bank Indonesia (BI) is likely to extend the coronavirus support measures by reducing the key interest rate at its monetary policy meeting due later this week. Key quotes "Given BI's growing programme of outright bond purchases, we believe BI should maintain a cautious policy stance. That said, with growth undershooting BI's estimate in 1Q and signs of an accelerating spread of COVID-19 domestically, the central bank will be under pressure to deliver some support for the economy. We expect BI to deliver a 25bp cut in 2Q, likely in the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
