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Bank Indonesia left its 7-day reverse repo rate unchanged at 3.50% and revised its 2021 GDP growth forecast to 4.1% to 5.1%. The governor said exports and fiscal stimulus are supporting the recovery while domestic consumption remains limited.
A steady policy rate and firmer growth outlook give the rupiah some support, which moderates import cost pressure for feed buyers. Exports are also a source of demand for Indonesian commodities.
octaafrica.netApr 20, 2021Not 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.
