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Indonesia: Bank Indonesia likely to hold rates steady – TDS

Analysts at TD Securities are expecting Bank Indonesia to hold the 7 day reverse repo rate steady at 6.00% today.

Key Quotes

“Although the IDR has strengthened sharply and inflation has continued to move lower, BI maintains a hawkish stance even as they consider interest rates near their peak.”

“We think there is more downside potential for CPI over H1 19, but BI remains cognisant of the risks from a widening current account deficit and likely prefers to maintain higher rates to combat such risks. In this respect, “stability” is BI’s mantra on monetary policy.”

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