Indonesia to Hold Key Rate as Prabowo Win Reduces Uncertainty

02/21/2024 11:24
Indonesia to Hold Key Rate as Prabowo Win Reduces Uncertainty

Indonesia’s central bank will likely keep its benchmark interest rate steady as Prabowo Subianto’s impending victory in the presidential race removes the uncertainty of a lengthy election process, even as the rupiah remains volatile.

Indonesia’s central bank will likely keep its benchmark interest rate steady as Prabowo Subianto’s impending victory in the presidential race removes the uncertainty of a lengthy election process, even as the rupiah remains volatile.

All 30 economists in a Bloomberg survey expect Bank Indonesia to keep the BI-Rate at 6% for a fourth straight month on Wednesday, a week after the election for a successor to President Joko Widodo who ends his decade-long tenure in October. Prabowo has claimed victory on Feb. 14, citing independent pollsters.

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