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Bank Indonesia unexpectedly cut its 7-day reverse repo rate by 25 basis points to 3.75% from 4.0% at its November meeting, citing low inflation and support for economic recovery. The rupiah traded in multi-day lows near 14,180 per US dollar after the decision.
A surprise rate cut lowers yields on rupiah assets and weakens the currency, which raises the cost of imported feed ingredients priced in dollars for Indonesian buyers.
octaafrica.netNov 19, 2020Not 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.
