16-October-2024
Economy News
 
Bank Indonesia to Hold Key Rate at 6% on Oct. 16 Amid Rupiah Concerns
15-Oct-2024

Bank Indonesia (BI) will leave interest rates unchanged on Wednesday despite inflation falling to its lowest level since 2021, as receding expectations of aggressive U.S. Federal Reserve easing weaken the rupiah, a Reuters poll found. Inflation eased to a multi-year low of 1.84% in September and has been within BI's target of 1.5% to 3.5% throughout 2024, suggesting the central bank could further lower rates before year-end. Despite BI's intervention to stabilise the rupiah last week, the currency has fallen more than 3% from a September peak following a strong U.S. employment report.

News Source:- https://money.usnews.com/investing/news/articles/2024-10-14/bank-indonesia-to-hold-key-rate-at-6-on-oct-16-amid-rupiah-concerns-reuters-poll