Indonesia: BI to stay on hold – Standard Chartered

Indonesia will release trade data on 17 February and the Bank of Indonesia (BI) will hold its monthly meeting on 19-20 February. Economists at Standard Chartered tell us what we can expect from these events. 

Key quotes

“Indonesia will announce January trade data on 17 February. We expect the trade deficit to have widened to USD 0.5bn in January from USD 28mn in December.”

“BI will hold its monthly governor board meeting on 19-20 February. We expect it to keep the 7-day reverse repo rate unchanged at 5.0%, and the deposit and lending facility rates at 4.25% and 5.75%, respectively.”

“We expect the central bank to continue to supply liquidity through open-market operations and maintain stability through FX and bond intervention in the near term. BI is likely to maintain its macroeconomic forecasts, but it may highlight rising growth risks from the coronavirus outbreak.”

“We expect the central bank to continue to supply liquidity through open-market operations and maintain stability through FX and bond intervention in the near term. BI is likely to maintain its macroeconomic forecasts, but it may highlight rising growth risks from the coronavirus outbreak.”