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Hartarto Expects Indonesia To Meet Growth Target, BI Decision In Sight

IDR

Spot USD/IDR has added 28 figures today and last changes hands at IDR14,253. Bulls would be pleased by a move through the 100-DMA, which intersects at IDR14,289, which would draw attention to Jun 4 high of IDR14,322. Bears look for losses past Jun 11 low of IDR14,185, towards May 10 low of IDR14,145.

  • USD/IDR 1-month NDF last at IDR14,289, 5 figures better off. Bulls keep an eye on May 28 high of IDR14,381, while bears look for a dip through Jun 11 low of IDR14,198.
  • Indonesian Econ Min Hartarto said that national economy is expected to rebound this year and the gov't remains confident that the GDP growth target of +4.5%-5.3% will be met. Hartarto added that the gov't has used 31.4% (or IDR219.65tn) of its 2021 pandemic stimulus budget.
  • Bank Indonesia will deliver their latest MonPol decision tomorrow. Virtually all analysts expect them to leave their benchmark policy rate unchanged.
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