Indonesia: BI kept the steady hand in March – UOB

Pablo Piovano FXStreet

Economist at UOB Group Enrico Tanuwidjaja and Yari Mayaseti assess the latest interest rate decision by the BI.

Key Takeaways

“Bank Indonesia (BI) kept its benchmark rate (7-Day Reverse Repo) unchanged at 3.50% at its March MPC meeting. Consequently, BI maintained the Deposit Facility rate at 2.75% as well as the Lending Facility rate at 4.25%.”

“We keep our view for BI to start hiking in mid-2022 to reach 4.5% by the end of this year.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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