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BI To Wait With Using Monetary Tools For Signs Of Fundamental Inflationary Pressure

IDR

Spot USD/IDR has pared its initial losses and last trades at IDR14,359, little changed on the day. Bears look for a fall through Mar 30 low of IDR14,325 before targeting Mar 17 low of IDR14,275. Bulls look to a rebound above Apr 8 high of IDR14,380 before taking aim at Mar 7/Jan 31 highs of IDR14,415/14,420.

  • USD/IDR 1-month NDF last seen -13 figs at IDR14,372. Downside focus falls on Mar 30 low of IDR14,329, while bulls keep an eye on Apr 8 high of IDR14,408.
  • FinMin Indrawati said in a briefing that Indonesia continues to monitor global volatility spillover on inflation, cost of funds and economic recovery, adding that economic indicators in Q1 show continued healthy recovery.
  • Bank Indonesia Gov Warjiyo added that the central bank will stand pat when faced with volatile CPI moves and will only use monetary policy tools when there are signs of fundamental inflationary pressures.
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