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Bank Indonesia Governor Perry Warjiyo said the central bank's policy stance has shifted to pro-growth from pro-stability. The bank cut its key rate by 25 bps to 5.50% last Thursday, its second straight monthly cut.
USD/IDR hit weekly highs near 14,277.50 as the rupiah tracked the yuan lower amid the US-China trade escalation.
Rate cuts and a weaker rupiah raise the local cost of imported feed ingredients such as soymeal and corn. The currency pressure linked to the trade war also affects Indonesian feed costs.
forexcrunch.comFX StreetAug 26, 2019After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
