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A CNBC Indonesia preview expected Bank Indonesia to keep its 7-day reverse repo rate at 3.75% at its January 21, 2021 meeting. The rupiah had started 2021 weakly, and the central bank was seen as prioritising currency stability over rate cuts.
Indonesia needs more foreign capital inflows to support the currency.
Holding rates to support the rupiah keeps Indonesian import costs for dollar-priced feed ingredients elevated. This has little direct effect on global commodity prices.
cnbcindonesia.comHidayat SetiajiJan 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.
