Bank Indonesia's Warjiyo: Central bank’s stance is now "pro-growth" from pro-stability – IDR at weekly lows

Dhwani Mehta FXStreet

Bank Indonesia (BI), the Indonesian central bank, Governor Perry Warjiyo was on the wires earlier today, via Reuters, noting that the central bank has moved its stance from keeping the financial system stable to support economic growth now.

"Starting this year the interest rate and the four other tools are set on pro-growth, that is why we have cut interest rates twice," Warjiyo said.

BI surprised markets last Thursday by lowering its key interest rate by 25 bps for the second straight month to 5.50%.

USD/IDR sits at weekly tops of 14,277.50, as the Indonesian Rupiah remains tracks the Yuan lower amid the US-China trade war escalation.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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