Bank Indonesia Policy Juggle Makes Rate Moves Harder to Predict

Bank Indonesia’s balancing act between stability and growth has lately led to more surprises than signals for markets, keeping investors on edge ahead of Wednesday’s interest rate decision.

The central bank has spurned market expectations at half of its 10 policy meetings so far this year, including its decision last month to maintain the key rate. In January and September, BI defied nearly all analyst forecasts by cutting rates.