Free Trial
TURKEY

CBRT Keeps Rates Unchanged, As Expected

LIBOR

US FIX - 26/05/22

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
IDR

Spot USD/IDR has crept higher today, despite a marginally hawkish hold delivered by Bank Indonesia on Thursday. The rate last sits +19 figs at IDR14,356, with bulls keeping an eye on Jan 19 high of IDR14,374. A break here would expose Jan 6/Dec 21 highs of IDR14,399/14,400. Bears look for a sell-off past Jan 11 low of IDR14,285.

  • USD/IDR 1-month NDF last seen +25 figs at IDR14,372. Topside focus falls on Jan 19 high of IDR14,428, followed by Jan 6 high of IDR14,470. Bears look to a dip through Jan 13 low of IDR14,292.
  • Bank Indonesia stood pat on interest rates on Thursday, while providing hawkish guidance for the coming months. The overall tone of comments on policy outlook echoed familiar rhetoric, but policymakers provided some more details. Governor Warjiyo announced plans to start policy normalisation by raising the RRR (currently at 3.5%) to 5.0% in March, 6.0% in June and 6.5% by September. Warjiyo had earlier anticipated that the gradual withdrawal of liquidity over 2022 may be followed by a hike to the benchmark 7-Day Reverse Repo Rate, as Bank Indonesia shift to a "pro-stability" from a "pro-growth" stance.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.