BENGALURU : Bank Indonesia is expected to keep its key interest rate unchanged at 5.75 per cent for a third consecutive meeting on April 18 and for the rest of this year as it evaluates the impact of previous hikes on inflation, a poll this week by Reuters found.Inflation has been largely cooling since Se
BENGALURU : Bank Indonesia is expected to keep its key interest rate unchanged at 5.75 per cent for a third consecutive meeting on April 18 and for the rest of this year as it evaluates the impact of previous hikes on inflation, a poll this week by Reuters found.
All 30 economists in the April 10-13 Reuters poll expected no change to the 5.75 per cent seven-day reverse repurchase rate, already the highest since July 2019. "There is little pressure for rate hikes from the external front too, with the odds of a very hawkish Fed diminishing and the IDR strengthening. By the same token, there is no urgency for an easing pivot either."
Bank Indonesia expects inflation to return to its target range in September, but in the Muslim-majority country, inflation typically rises during Ramadan, which concludes this month, due to increased shopping and consumption.
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