Bank Indonesia Holds Rate at 5.75% as Rupiah Steadies Against Dollar
Governor Perry Warjiyo said the central bank will prioritize stability until the Fed makes its first move, signaling no rush to follow emerging-market peers.
Bank Indonesia left its benchmark seven-day reverse repo rate unchanged at 5.75%, citing continued vigilance on the rupiah, which has traded in a narrow range near 16,250 per dollar for the past two weeks.
Governor Perry Warjiyo said the central bank has the room and the tools to cut when conditions allow, but would not move ahead of the U.S. Federal Reserve.
Economists polled by Bloomberg expect the first cut to come in July, followed by a second reduction in the fourth quarter.
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