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Indonesian GDP growth forecast has been lowered by Aldian Taloputra, an economist at Standard Chartered Bank, who is also expecting the Bank Indonesia (BI) to cut the policy rate. USD/IDR trades at 14645.

Key quotes 

“We lower our GDP growth forecasts to reflect the deeper-than-expected economic impact of the coronavirus outbreak and the collapse in crude oil prices. We now expect growth to slow to 4.8% in 2020 (previously 5.0%) and 5.0% in 2021 (previously 5.2%).”

“We now expect Bank Indonesia (BI) to lower the policy rate by 25bps in both March and June; we previously expected no further cuts.”

“We lower our 2020 average inflation forecast to 3.1% from 3.6%, as lower crude oil prices could delay energy price adjustments.”

 

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5

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