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Bank Indonesia hiked its 7-day reverse repo rate by 50 bps from 4.25% to 4.75%, as widely expected. The rupiah rebounded from two-year lows near 15,587.50 per dollar, and the central bank said it will intervene in FX markets to prevent imported inflation.
Rate hikes and FX intervention aim to stabilize the rupiah, but the currency's weakness keeps imported feed costs high for Indonesian buyers.
teletrade.orgOct 20, 2022Not 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.
