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Analysts at TDS expected Bank Indonesia to hold its 7-day reverse repo rate at 4.25% at its February meeting, in line with consensus. The rupiah had sold off about 2% against the dollar since the January meeting and traded above the 13,600 level, outside the 13,300-13,500 range the central bank is seen as tolerating.
TDS forecast a 25bp hike in Q2.
A weaker rupiah raises imported feed costs, and a possible hawkish turn from Bank Indonesia could raise domestic borrowing costs for feed mills. The pending rate path matters for the currency outlook.
octaafrica.netFeb 15, 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.
