Bank Indonesia to hold key rate at 6% on Oct. 16 amid rupiah concerns: Reuters poll By Reuters

Marking a shift in expectations, over 75% of economic experts, 24 of 31, in an Oct. 7-14 Reuters poll forecasted the reserve bank would certainly maintain its benchmark seven-day reverse repurchase price at 6.00% on Oct. 16.

“Recent market growths have actually changed the odds in favour of BI maintaining its policy rate unchanged … Stronger-than-anticipated united state labour market information caused a market repricing of U.S. rate expectations and restored stress on the rupiah,” ANZ stated in a note to clients, including that longer-term they remained to see 5.00-5.25% as a sensible range for the terminal plan price.

Inflation was anticipated to average 2.5% this year and 2.6% next year while economic development was seen stable at 5.0% in 2024 and 5.1% in both 2025 and 2026. The development projections were generally unchanged from a July survey but the rising cost of living expectation was reduced.

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