Bank Indonesia Rate Cuts Should Be More Gradual Ahead -- Market Talk

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Bank Indonesia Rate Cuts Should Be More Gradual Ahead -- Market Talk

Dow Jones11-21 12:01

0401 GMT - Bank Indonesia's reliance on rate cuts to support growth will lessen in the strong dollar environment, given its mandate for a strong rupiah, HSBC economists say. Instead, macro prudential easing and government policy reforms will be relied upon, they say. Bank Indonesia kept policy rates unchanged at 6% on Wednesday. HSBC expects no more rate cuts in 2024 but continues to forecast three rate cuts in 2025 spread between 1Q and 2Q, bringing the policy rate to 5.25% by June versus its earlier projection by March. This quantum of easing will strategically leave policy rates slightly higher than prepandemic levels, given more volatile exchange rates over the last few years, HSBC adds. (monica.gupta@wsj.com)

(END) Dow Jones Newswires

November 20, 2024 23:01 ET (04:01 GMT)

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