USD/IDR set to move toward 15,000 by end-2024 – Standard Chartered
|Economists at Standard Chartered analyze Indonesia’s macroeconomic outlook and share their forecast for the Rupiah (IDR.)
2024 GDP growth to pick up to 5.2% YoY
We expect 2024 GDP growth to pick up to 5.2% YoY on a continued cyclical recovery, election spending, and still-healthy demand for Indonesia’s main export commodities.
We expect BI to start cutting rates in H2, with a risk of an earlier cut should the Fed move faster on a sharper US economic downturn.
We stay constructive on the Indonesian Rupiah and see USD/IDR appreciating to 15,000 by end-2024 on resumed portfolio flows.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.