# USD/IDR: Rupiah refreshes two-month tops on Bank Indonesia's surprise status-quo - Forex Crunch

> Bank Indonesia unexpectedly held its 7-day reverse repo rate at 4.50% on May 19, rather than cutting by 25 basis points as many had expected. It kept the rate unchanged for a third straight meeting to assess the pandemic's impact. The central bank also cut its 2020 growth forecast and reported $4.1 billion in net portfolio inflows.

- Date: 2020-05-19 · published 2020-05-19T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/53434-usd-idr-rupiah-refreshes-two-month-tops-on-bank-indonesia-s-surprise-status-quo
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md)

## Why it matters

The hold weakened expectations for monetary easing and pushed the rupiah to two-month highs against the dollar, which affects the local cost of dollar-priced feed imports. The effect on commodity markets is limited.

## Read by commodity

- USDIDR: bullish ▲

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/05/19/usd-idr-rupiah-refreshes-two-month-tops-on-bank-indonesias-surprise-status-quo/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.