Central Banks
Bank Indonesia to Keep Interest Rates Steady Ahead of Crucial Fed Meeting
- Policy rate will likely stay at 5.75% for sixth straight month
- Indonesia sets tighter FX rules for exporters to aid rupiah
Bank Indonesia, among the most active emerging-market central banks when it comes to the use of macroprudential measures, has unveiled more tools to shore up the rupiah.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Indonesia’s central bank will likely keep its benchmark interest rate at a four-year high to support the rupiah amid expectations the Federal Reserve will resume monetary tightening later this week.
Bank Indonesia is seen to keep its seven-day reverse repurchase rate unchanged at 5.75% on Tuesday, according to all 30 economists surveyed by Bloomberg. The central bank has stood pat in every meeting this year after January, when it delivered a quarter-point hike.