Bank Indonesia official signals steady rates as authorities try to calm markets By Reuters

Bank Indonesia official signals steady rates as authorities try to calm markets

© Reuters. FILE PHOTO: People walk to an entrance at Indonesia's central bank Bank Indonesia in Jakarta, Indonesia July 21, 2016. REUTERS/Iqro Rinaldi/File Photo

It was the first bond-buying operation by the BI since 2022, underscoring anxiety in official circles about the shakeout in markets, with the rupiah extending its fall on Wednesday to as low as 15,640 a dollar, its weakest since Dec. 30. BI is due to hold a two-day monetary policy meeting on Oct. 18 to 19, with most analysts expecting the bank to hold rates steady at 5.75% for the ninth straight month given inflation has eased to near the bottom of the central bank's target range.

Growth in Southeast Asia's largest economy could reach around 5% this year, or the midpoint of BI's 4.7% to 5.3% official GDP growth outlook, Destry said, compared with last year's 5.3% GDP expansion.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.

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