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Bank Indonesia lifted its reverse repo rate 50 bps to 5.25% on Friday, surprising all 31 economists surveyed by Bloomberg. The rupiah gained up to 0.6% after the decision but had earlier slid to 14,415, down over 5% this year.
The surprise hike signals determination to stabilize the rupiah, which lowers the local-currency cost of dollar-priced feed imports, though the effect on feed prices is gradual.
businesstimes.com.sgJun 29, 2018Not 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.
