Indonesia: BI seen on hold this week – UOB

Economist at UOB Group Lee Sue Ann expects the Bank Indonesia (BI) to leave its monetary conditions unchanged at its meeting later this week.

Key Quotes

“Going forward, we are of the view that BI will keep its accommodative monetary policy via other macro prudential, and liquidity-supporting measures to effectively transmit the cumulative 150bps reduction of the benchmark interest rate into the economy.”

“We keep our BI rate forecast steady at 3.50% for the rest of the year.”