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Bank Indonesia held its policy rate and said monetary policy would stay accommodative, focusing on the quantitative channel to support the coronavirus-hit economy. The central bank expects government spending and a rebound in exports to help growth in the near term.
Continued liquidity support and a steady policy rate tend to weigh on the rupiah, which lifts USD/IDR and raises the local cost of imported feed ingredients such as soybean meal and corn.
reuters.comGayatri Suroyo, Fransiska NangoyOct 13, 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.
