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Bank Indonesia kept its benchmark rate unchanged on May 16, 2019, as escalating US-China trade tensions pushed the rupiah down about 4% from its February high. The central bank is bucking regional monetary easing trends to defend the currency.
Holding rates to defend the rupiah keeps domestic borrowing costs high and reflects currency pressure that raises the local cost of dollar-priced feed imports.
asia.nikkei.comSHOTARO TANI, Nikkei staff writerMay 16, 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.
