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Bank Indonesia's Call for Special Meeting Welcomed by Investors

  • Rupiah, JCI and bonds all rally as BI set to meet Wednesday
  • Most economists see central bank raising rate 25 bps to 4.75%
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Goldman’s Andrew Tilton discusses how Treasury yields and oil prices are affecting growth and policies in Asia.(Source: Bloomberg)
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Investors are cheering new Indonesian central bank Governor Perry Warjiyo for calling an unscheduled policy meeting on Wednesday in an effort to stem a rout in the rupiah.

The Indonesian currency strengthened for a third day, rising 1 percent against the dollar as of 3:30 p.m. in Jakarta, while the benchmark Jakarta Composite Index advanced 1.5 percent. The nation’s 10-year bond yield dropped 21 basis points to 7.16 percent in a third day of declines.