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Central Bank Keeps Key Rate Unchanged At 6.25%

INDONESIA CENTRAL BANK

Bank Indonesia leaves the key interest rate unchanged at 6.25%, as expected by most (30/33) in the Bloomberg survey, with Governor Perry Warjiyo noting that the rupiah remains manageable and continues to move in line with policy responses.

  • The central bank maintained its growth and inflation forecasts for this year. Headline inflation is expected to be within the +1.5%-3.5% Y/Y range in 2024, while the economy may grow 4.7%-5.5% Y/Y. Current-account deficit is still expected at 0.1%-0.9% of GDP.
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Bank Indonesia leaves the key interest rate unchanged at 6.25%, as expected by most (30/33) in the Bloomberg survey, with Governor Perry Warjiyo noting that the rupiah remains manageable and continues to move in line with policy responses.

  • The central bank maintained its growth and inflation forecasts for this year. Headline inflation is expected to be within the +1.5%-3.5% Y/Y range in 2024, while the economy may grow 4.7%-5.5% Y/Y. Current-account deficit is still expected at 0.1%-0.9% of GDP.