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INDONESIA CENTRAL BANK: Central Bank Keeps BI Rate Unchanged At 6.25%

INDONESIA CENTRAL BANK
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Bank Indonesia (BI) left its key reference rate unchanged at 6.25%, as predicted by 34 out of 36 economists polled by Bloomberg ahead of the decision, with the other two expecting a 25bp cut.

  • The outlook for this year remains broadly unchanged. The central bank maintained its 2024 GDP growth forecast at +4.7%-5.5% Y/Y and kept the inflation projection at +1.5%-3.5% Y/Y.
  • Bank Indonesia said that it expects the rupiah to strengthen in line with fundamentals and easing uncertainty.
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Bank Indonesia (BI) left its key reference rate unchanged at 6.25%, as predicted by 34 out of 36 economists polled by Bloomberg ahead of the decision, with the other two expecting a 25bp cut.

  • The outlook for this year remains broadly unchanged. The central bank maintained its 2024 GDP growth forecast at +4.7%-5.5% Y/Y and kept the inflation projection at +1.5%-3.5% Y/Y.
  • Bank Indonesia said that it expects the rupiah to strengthen in line with fundamentals and easing uncertainty.