#USDIDR @ 14,835.0 -imp levels: : Indonesian rupiah could gain support as BI finally pivots – ING
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE and login below to read further [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Bank Indonesia (BI) unexpectedly raised its policy rate by 25 bps today. In the view of economists at ING, the Indonesian rupiah (IDR) could strengthen in the near-term after the surprising rate hike.
“BI finally hiked after staying on hold for the whole of 2022, confident that policy tightening would not derail the economy’s recovery. We expect at least two more rate hikes by the central bank this year.”
“The IDR could gain support from the surprise rate hike in the near-term and could strengthen further should Indonesia’s trade surplus remain sizable.”
[/s2If]
Join Our Telegram Group
