Bank Indonesia's Warjiyo: Economic impact from the coronavirus outbreak to peak in February-March
|Bank Indonesia (BI), the Indonesian central bank, Governor Perry Warjiyo said on Friday, the economic impact from the coronavirus outbreak to peak in February-March.
Additional comments:
February inflation seen at 3.02% y/y.
Foreign outflow from govt bonds, stocks seen at 30.8 trillion rupiah in Feb.
BI will continue to intervene in spot fx, bonds, domestic NDF to control rupiah depreciation.
BI has bought around 100 trillion rupiah worth of bonds this year as of Feb 27.
Earlier today, BI Deputy Governor Dody Budi Waluyo said that the central bank intervened in spot markets for fx, govt. bonds and NDF to "guard the stability of the rupiah" currency.
He added that he hoped any impact would be "short and mild" from uncertainties over a sharp global surge in coronavirus infections that led to a slump in world markets.
USD/IDR extends its vertical rise
The rupiah remains heavily sold-off against the greenback, as USD/IDR currently prints a new five-month high at 14,225, up 1.40% on a daily basis.
The coronavirus outbreak induced global growth concerns are negative affecting the Indonesian currency.
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