Bank Indonesia to stay put till year-end, cut in Q2 2024: Reuters poll

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Bank Indonesia to stay put till year-end, cut in Q2 2024: Reuters poll
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Bruce Cockburn: 50 years of music, spirituality and social justice | SaltWireBENGALURU - Bank Indonesia will follow its regional peers and leave its interest rate unchanged on Oct. 19, staying on the sidelines for longer than previously expected, a Reuters poll found.

However, a weakening rupiah - down around 7.5% from a 2023 high of 14,560 per dollar hit on May 4 - was likely to keep the central bank from easing anytime soon. "BI along with most global central banks are just going to try and wait out the volatility we have seen in global markets recently, particularly in the U.S. Treasury markets," said Lavanya Venkateswaran, senior ASEAN economist at OCBC Bank.

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