Analysts at ANZ note that Bank Indonesia (BI) left its 7-day reverse repo rate on hold at 5.00% today, as widely expected.
Key Quotes
“BI’s policy messaging continued to signal an easing bias, and domestic growth and inflation dynamics support the case for more easing.”
“However, external stability remains a constraint for aggressive rate cuts, in our view.”
“Overall, we maintain our forecast for one more 25bp rate cut in the current easing cycle, likely in Q1.”
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