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Bank Indonesia cut its 7-day reverse repo rate by 25 basis points to 5.75% on July 18, 2019, as widely expected. The central bank also lowered its 2019 growth outlook and said it would keep an accommodative stance, yet the rupiah strengthened afterward.
Rate cuts normally weaken a currency, but the rupiah's firmness suggests the market had already priced the move, so the feed-cost impact is limited.
octaafrica.netJul 18, 2019Not 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.
