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Indonesia central bank leaves rates on hold as it focuses on FX stability - REUTERS

NOVEMBER 20, 2024

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  • BI maintains rates amid global economic uncertainty
  • Rupiah stability prioritised over potential rate cuts
  • Analysts see low chance of rate cut in December

JAKARTA, Nov 20 (Reuters) - Indonesia's central bank left interest rates unchanged on Wednesday, as expected, saying changed global dynamics after the U.S. election meant it had to focus on stabilising the currency, and analysts saw little chance of a near-term rate cut.
Bank Indonesia (BI) kept the benchmark rate (IDCBRR=ECI) steady at 6.00%, as predicted by 25 of 34 analysts polled by Reuters. It also left unchanged overnight deposit and lending rates.

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