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Bank Indonesia held its seven-day reverse repo rate at 5.75% for an eighth straight month, prioritizing rupiah stability. The rupiah hit its weakest level in six months amid rising US Treasury yields, and the central bank expects the Fed to raise rates in November.
Holding rates while the rupiah weakens keeps Indonesian import costs for feed ingredients elevated, as currency pressure persists.
english.kontan.co.idYudho WinartoSep 21, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
