# USD/IDR: Rupiah holds near six-week low on Bank Indonesia’s expected rate cut — Octa

> On February 20, 2020, Bank Indonesia cut its 7-day reverse repo rate by 25 basis points to 4.75%, in line with most economists' expectations, ending three months of unchanged policy. The bank cut its 2020 GDP growth forecast to 5.0-5.4% and blamed the coronavirus outbreak's effect on tourism, trade and investment. The rupiah was holding near a six-week low after the decision.

- Date: 2020-02-20 · published 2020-02-20T12:00:00.000Z
- Category: macro · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/54910-usd-idr-rupiah-holds-near-six-week-low-on-bank-indonesia-s-expected-rate-cut
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md)

## Why it matters

Lower Indonesian interest rates can reduce the appeal of rupiah assets, adding pressure on the currency and raising the cost of dollar-priced feed imports. A weaker growth outlook may also reduce feed demand in the coming year.

## Read by commodity

- USDIDR: bullish ▲

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/798295/

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