January 14, 2025 03:26 GMT
INDONESIA CENTRAL BANK: MNI BI Preview: Jan 2025: IDR Stability Remains In Focus
INDONESIA CENTRAL BANK
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.
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