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MNI BI Preview: Jan 2025: IDR Stability Remains In Focus

The BI is likely to leave rates on hold at the January policy meeting.
Asia Bank - PreviewBank of Indonesia - PreviewAPACAnalysisEM Central Bank ReportsEM Central Bank PreviewIndonesiaStory

EXECUTIVE SUMMARY:

  • Bank Indonesia (BI) meets on January 15 and is likely to keep rates at 6.0% again, as it was very clear in its December meeting statement that the “the focus of monetary policy is on strengthening Rupiah stability” given current economic uncertainties especially from the US. 
  • USDIDR is back above 16200 and is higher than the December 18 meeting when policy was on hold. President-elect Trump’s inauguration is on January 20 and so BI is unlikely to determine this month that FX and economic developments allow them to ease again.
  • The strong sell-side consensus is also for no change at tomorrow's policy meeting.  

FOR THE FULL PUBLICATION PLEASE USE THE FOLLOWING LINK:  BI Preview - January 2025.pdf

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EXECUTIVE SUMMARY:

  • Bank Indonesia (BI) meets on January 15 and is likely to keep rates at 6.0% again, as it was very clear in its December meeting statement that the “the focus of monetary policy is on strengthening Rupiah stability” given current economic uncertainties especially from the US. 
  • USDIDR is back above 16200 and is higher than the December 18 meeting when policy was on hold. President-elect Trump’s inauguration is on January 20 and so BI is unlikely to determine this month that FX and economic developments allow them to ease again.
  • The strong sell-side consensus is also for no change at tomorrow's policy meeting.  

FOR THE FULL PUBLICATION PLEASE USE THE FOLLOWING LINK:  BI Preview - January 2025.pdf