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☆ Indonesia's central bank delivers surprise rate hike to support rupiah
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: +1 min

Indonesia's central bank delivered a surprise rate hike on Wednesday, stepping up efforts to support the rupiah currency which has fallen to four-year lows on rising risk aversion and a delay in the expected timing of any U.S. policy easing. Bank Indonesia (BI) raised the 7-day reverse repurchase rate, opens new tab by 25 basis points (bps) to 6.25%, its highest since the bank made the instrument its main policy rate in 2016. BI also increased the overnight deposit facility, opens new tab and lending facility rates, opens new tab by the same amount to 5.50% and 7.00%, respectively. "This hike in interest rates is to strengthen the stability of the rupiah exchange rate against the risk of a worsening global risks," BI Governor Perry Warjiyo told a briefing where the rate hike was announced. The rupiah extended gains after the announcement and was up 0.45% against the dollar at 0736 GMT at 16,140.

Persons: Perry Warjiyo Organizations: Bank Indonesia, Reuters, BI

☆ 2024 is the year of the rate cut pivot — here's when the world's central banks will budge
▼ + stars: | 2024-03-13 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +6 min

EIU also expects the Bank of Japan will exit its negative interest rate policy in the second quarter. Markets currently expect the Fed to start with a 25-basis-point rate cut in June. Euro zoneThe European Central Bank last week also held its policy rate at a record high of 4%, signaling that it won't cut rates before June. JPMorgan said in a research note that the Turkish central bank may cut its policy rate in November and December, keeping its year-end policy rate forecast of 45%. IndonesiaIndonesia's central bank kept its benchmark policy rate at 6% in its recent meeting.

Persons: EIU, Jerome Powell, LSEG, Nomura, Perry Warjiyo, CNBC's JP Ong, BOK, Goldman Sachs, Goohoon Kwon, Kwon Organizations: Getty, Economist Intelligence Unit, Bank of Japan, United, United States U.S, Federal, Fed, European Central Bank, ECB, Swiss National Bank, UBS, Bank of Canada, Bank of, JPMorgan, Reserve Bank of, ANZ, New Zealand Auckland Savings Bank, Bank, Bank Indonesia, BMI, Fitch Solutions, U.S, Oxford Economics, Macquarie Locations: Czech, China, Japan, United States, Switzerland Swiss, Bank of Canada, Turkey, Turkish, Reserve Bank of Australia, New, Indonesia, South Korea, Asia

A screen showing the Hang Seng stock index is seen outside Exchange Square, in Hong Kong, China, August 18, 2023. The VIX index of S&P 500 implied volatility - the so-called Wall Street 'fear index' - closed at 12.46 on Friday, its lowest close since January 2020. Three central banks in the Asia & Pacific region hold policy meetings this week. Like Bank Indonesia last week, the central banks of New Zealand, South Korea and Thailand are all expected to leave key rates unchanged. But, broadly speaking, no further tightening from the Fed gives central banks in Asia a bit more breathing room.

Persons: Tyrone Siu, Jamie McGeever, Diane Craft Organizations: REUTERS, People's Bank of, MSCI's, Emerging, Bank Indonesia, U.S . Federal, Fed, PPI, U.S, Treasury, Thomson, Reuters Locations: Exchange, Hong Kong, China, Israel, New Zealand, South Korea, Thailand, Australia, India, Japan, People's Bank of China, MSCI's Asia, Asia

☆ Bank Indonesia to maintain key rate at 6.00% until at least mid-2024
▼ + stars: | 2023-11-21 | by ( Susobhan Sarkar | ) www.reuters.com time to read: +2 min

BENGALURU, Nov 21 (Reuters) - Bank Indonesia (BI) will leave its key policy rate unchanged at 6.00% on Thursday and likely keep it at that level until at least mid-2024, according to a Reuters poll of economists in which a few respondents still expected another rate hike. "Bank Indonesia is likely to keep rates unchanged this month. In a Nov. 14-20 Reuters poll, a strong majority of economists, 27 of 31, expected Indonesia's central bank to keep its benchmark key interest rate (IDCBRR=ECI) unchanged at 6.00% on Thursday. While 12 of 28 put the key rate at 6.00% at the end of June, five had a 6.25% forecast and three had 6.50%. "Our base case is for the first BI rate cut in Q3 2024 ...

Persons: Radhika Rao, Brian Lee Shun Rong, Susobhan Sarkar, Veronica Khongwir, Milounee Purohit, Paul Simao Organizations: Bank Indonesia, Bank, greenback, U.S . Federal, U.S ., DBS, Reuters, Maybank, Thomson Locations: BENGALURU, Asia's, Bank Indonesia

Passersby wait at a crossing in front of an electronic board showing Japan's Nikkei average outside a brokerage, in Tokyo, Japan, March 17, 2023. REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsNov 21 (Reuters) - A look at the day ahead in Asian markets from Alden Bentley, U.S. The benchmark S&P 500 (.SPX) is now less than 2% away from its highest level this year that was reached in July. There are few potential U.S. market moving events this week, besides Tuesday's day early release of the minutes from the Federal Open Market Committee's last meeting. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Androniki, Alden Bentley, Satya Nadella, Sam Altman Organizations: Nikkei, REUTERS, Breaking, Finance, Markets, Reuters, Microsoft, Treasury, Fed, Federal, Reserve Bank of Australia, Bank Indonesia, Kuaishou Technology, Tongcheng Travel, Alden Bentley Our, Thomson Locations: Tokyo, Japan, Alden, U.S, Asia

Nov 20 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. China's latest interest rate decision will be the main focus for Asian markets on Monday, with investors also eyeing third-quarter GDP from Thailand, and trade figures from Malaysia and Taiwan. On Monday, the People's Bank of China is widely expected to leave lending benchmark rates unchanged. All 26 market watchers in a Reuters poll expect the one-year and five-year loan prime rates to be held steady at 3.45% and 4.20%, respectively. It is why Beijing's policy decisions are so important: as long as the interest rate spread remains heavily against the Chinese yuan, these outflows will likely persist.

Persons: Jamie McGeever, Goldman Sachs, Diane Craft Organizations: U.S, Treasury, Japan's Nikkei, Equity, People's Bank of, Reserve Bank of Australia, Bank Indonesia, Bank of, Thomson, Reuters Locations: Thailand, Malaysia, Taiwan, Asia, Japan, People's Bank of China, Bangkok, Bank of Japan, China

Gross domestic product (GDP) grew 4.94% annually in the July-September quarter, compared with 5.05% predicted by economists surveyed by Reuters. Growth was 5.17% in the second quarter. In the July-September period, household spending growth decelerated to 5.06%, from 5.22% in the previous three months. A bright spot in the GDP breakdown came from investment, which recorded a 5.77% growth in the third quarter, versus 4.63% in the second quarter. On a non-seasonally adjusted, quarter-on-quarter basis, gross domestic product expanded 1.60% in the July-September period.

Persons: Gayatri Suroyo, Kanupriya Kapoor Organizations: Gross, Reuters, Growth, Bank Indonesia, Thomson Locations: JAKARTA, Asia's, Ukraine, Middle

☆ Inflation to dog world economy next year, postponing rate cuts: Reuters poll
▼ + stars: | 2023-10-27 | by ( Hari Kishan | ) www.reuters.com time to read: +4 min

Despite broad success in bringing inflation down from its highs - the easier bit - prices are still rising faster than most central banks would prefer and hitting their inflation targets is likely to be tough. The Reserve Bank of New Zealand, which often leads the interest rate cycle, was also forecast to wait until July-September 2024 before cutting. The majority backing no cuts until the second half of 2024 has also grown stronger for the Reserve Bank of Australia, Bank Indonesia and the Reserve Bank of India. Even the Bank of Japan, the outlier sticking to ultra-loose policy through this entire round of inflation, is now expected to abandon negative interest rates next year. Crucially, most economists agree the first easing steps will not be the beginning of a rapid series of cuts.

Persons: Sarah Silbiger, Christine Lagarde, Douglas Porter, it's, Nathan Sheets, Hari Kishan, Ross Finley, Tomasz Janowski Organizations: El Progreso Market, Washington , D.C, REUTERS, Reuters, U.S . Federal Reserve, European Central Bank, ECB, Fed, BMO, Reserve Bank of New, Reserve Bank of Australia, Bank, Reserve Bank of India, Bank of Japan, Citi, Thomson Locations: Mount Pleasant, Washington ,, BENGALURU, Reserve Bank of New Zealand, Bank Indonesia, Bengaluru, Buenos Aires, Cairo, Istanbul, Johannesburg, London, Shanghai, Tokyo

A passerby walks past an electric monitor displaying recent movements of various stock prices outside a bank in Tokyo, Japan, March 22, 2023. The U.S. 10-year yield has shot up 35 basis points this week, on track for its biggest weekly rise in over a decade. The 2s/10s yield curve has steepened 27 basis points, which would be the biggest weekly steepening move since March. The 10-year yield rose as high as 4.996%, a level not seen since July 2007. On the economic data front, data are expected to show Japan's annual core inflation rate was 2.7% in September, cooling from 3.1% in August.

Persons: Issei KatoFile, Jamie McGeever, Kazuo Ueda, Jerome Powell, Ueda, Josie Kao Organizations: REUTERS, Bank of Japan, People's Bank of, Federal, Netflix, Thomson, Reuters Locations: Tokyo, Japan, Treasuries, Malaysia, Hong Kong, China, People's Bank of China, Asia, U.S, Hill, East

Oct 19 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. But the one-two combination of new multi-year highs for U.S. bond yields and a steep selloff on Wall Street looks set to deliver an early blow to Chinese and other markets across Asia on Thursday. As well as rising bond yields on Wednesday, Wall Street felt the heat from downbeat U.S. earnings. Stocks fell the most in two weeks, even though the message from Fed officials on the stump was that interest rate hikes are probably over. Here are key developments that could provide more direction to markets on Thursday:- South Korea interest rate decision- Indonesia interest rate decision- Several Fed officials speak, including Chair Jerome PowellBy Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Jamie McGeever, Stocks, Jerome Powell, Josie Kao Organizations: Treasury, Will, Bank of Japan, Government Bond, Bank of Korea, Bank Indonesia, Thomson, Reuters Locations: U.S, Asia, South Korea, Indonesia, Japan, Malaysia, Australia, Hong Kong, Korea

☆ The de-dollarization drive is spreading wider - Indonesia is the latest nation to join the anti-buck movement
▼ + stars: | 2023-09-20 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Indonesia appears to be the latest country to jump on the de-dollarization bandwagon. The island nation has launched a National Task Force to promote local-currency transactions. The move is expected to help make the rupiah more stable, and support local financial markets, Bank Indonesia said. The island nation has announced it's formed a National Task Force to widen the use of local currency transactions (LCT) with partner countries, according to Indonesia's central bank. While some experts perceive de-dollarization efforts as a threat to the greenback, others have dismissed the movement as a nothingburger.

Persons: it's, Perry Warjiyo, Vladimir Putin Organizations: Force, Bank, Service, Bank Indonesia Locations: Indonesia, Bank Indonesia, Wall, Silicon, China, Russia, India, dollarization, Beijing, New Delhi, Zimbabwe

REUTERS/Willy Kurniawan/File Photo/File Photo Acquire Licensing RightsCompanies PT Suralaya Indotenaga FollowSINGAPORE/JAKARTA, Sept 14 (Reuters) - Environmental groups have submitted a formal complaint to the World Bank for providing financial support for two coal-fired power plants in Indonesia, violating a pledge to stop backing fossil fuels. Plans to build two more would emit 250 million tons of climate-warming carbon dioxide into the atmosphere, the groups said a letter to World Bank compliance ombudsman Janine Ferretti. The IFC, the World Bank and Hana Bank Indonesia did not immediately respond to requests to comment. According to the Global Energy Monitor think tank, Indonesia was one of 11 countries to commission new coal plants last year. The JETP compels Indonesia to impose a moratorium on new coal-fired power plants, though there are exemptions for "captive" plants that serve other industrial facilities.

Persons: Willy Kurniawan, Janine Ferretti, CREA, David Stanway, Miral Organizations: Indonesia Power, Plant, REUTERS, World Bank, International Financial Corporation, IFC, Hana, Hana Bank Indonesia, Bank, Inclusive Development, Hana Bank, Research, Energy, Clean, PT, Raya, Global Energy Monitor, Thomson Locations: Suralaya, Banten province, Indonesia, SINGAPORE, JAKARTA, Hana Bank, Asia, U.S, Hana Bank Indonesia, Helsinki, Jakarta, China, India

That was within Bank Indonesia's 2023 inflation target range of 2% to 4%. A deeper look at the data showed that while headline inflation only rose modestly, annual rice inflation accelerated to 13.76% in August, the highest since June 2012. Myrdal Gunarto, economist with Maybank Indonesia, said he expected a limited increase in rice prices going forward due to planned imports from Southeast Asian countries, predicting headline inflation would remain manageable. As for rice inflation, Irman said: "As a staple, the (rice) inflation will affect purchasing power. But generally, food commodities are showing a moderation trend that is offsetting (rising) rice prices' impact."

Persons: Rice, Myrdal Gunarto, Irman Faiz, Irman, Stefanno Sulaiman, Gayatri Suroyo, Kanupriya Kapoor Organizations: Bank, Maybank, Bank Danamon, Thomson Locations: JAKARTA, Indonesia, Maybank Indonesia

☆ Vietnam joins Southeast Asian effort on cross-border payments
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

People go past the State Bank building, near the offices of Vietcombank and the Bank for Investment and Development of Vietnam, in central Hanoi, Vietnam November 23, 2017. REUTERS/Kham Acquire Licensing RightsJAKARTA, Aug 25 (Reuters) - Vietnam's central bank signed an agreement on Friday to be part of an initiative by five other Southeast Asian countries to establish a cross-border payments mechanisms between them. Vietnam will join Indonesia, Malaysia, Thailand, the Philippines and Singapore in working to connect each of their payment systems, including using the QR (quick response) code system for retail transactions. The agreement was made at a meeting of the 10-member Association of Southeast Asian Nations (ASEAN) finance ministers and central bank governors in Jakarta. Furthermore, Indonesia, Malaysia and Thailand have agreed to later facilitate cross-border transactions for financial assets like equities and government bonds in local currencies.

Persons: Perry Warjiyo, Stefanno Sulaiman, Martin Petty Organizations: Bank, Bank for Investment, Development, REUTERS, Rights, QR, Association of Southeast Asian Nations, ASEAN, Bank Indonesia, Thomson Locations: Vietcombank, Vietnam, Hanoi, Rights JAKARTA, Indonesia, Malaysia, Thailand, Philippines, Singapore, Jakarta

Bank Indonesia's logo is seen at its headquarters in Jakarta, Indonesia, January 17, 2019. Bank Indonesia (BI) plans to issue new rupiah-denominated securities, using its holdings of government bonds as the underlying asset, as a new monetary instrument aimed at attracting foreign portfolio capital flows, Governor Perry Warjiyo said. BI kept the benchmark 7-day reverse repurchase rate (IDCBRR=ECI) at 5.75% for its seventh straight monthly policy review, as widely expected by economists surveyed by Reuters. Guarding the rupiah "is our way to protect the domestic economy, inflation and growth from global spillovers," Warjiyo told reporters. Inflation slowed in July to 3.08%, roughly the midpoint of the central bank's 2% to 4% target range.

Persons: Willy Kurniawan, Perry Warjiyo, Warjiyo, Radhika Rao, Shivaan Tandon, Bank Danamon, Fransiska Nangoy, Bernadette Christina Munthe, Stefanno Sulaiman, Ananda Teresia, Gayatri Suroyo, Martin Petty, Kim Coghill, Kirsten Donovan Organizations: REUTERS, Bank Indonesia, BI, Reuters, Securities, U.S, Treasury, DBS Bank, Capital Economics, Bank, Thomson Locations: Jakarta, Indonesia, JAKARTA, Asia's, China

Office workers look at their mobile phones to check the local online banking app Toss as they gather at Seoul Museum of Art during a lunch break in Seoul, South Korea, April 13, 2023. Interest rate decisions and policy guidance from South Korea and Indonesia take center stage in Asia on Thursday, as investors also navigate the strong cross currents from global equity and bond markets the day before. On the Asian policy front, the Bank of Korea is expected to leave its key policy rate unchanged at 3.50% for a fifth consecutive meeting on Thursday and hold it steady for the rest of this year. Bank Indonesia is also expected to keep its key interest rate steady, at 5.75% for the seventh consecutive meeting and for the rest of the year too. Here are key developments that could provide more direction to markets on Thursday:- South Korea interest rate decision- Indonesia interest rate decision- South Korea producer price inflation (July)By Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Hong, Jamie McGeever, Josie Kao Organizations: Seoul Museum of Art, REUTERS, Wall, Nvidia, Shanghai CSI, Bank of England, European Central Bank, Bank of, Bank Indonesia, Thomson, Reuters Locations: Seoul, South Korea, Indonesia, Asia, Europe, China, Shanghai, Japan, Bank of Korea, Korea

☆ Goldman Sachs: Is David Solomon on his way out? The CEO whisperer weighs in
▼ + stars: | 2023-08-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —David Solomon, CEO and president of Goldman Sachs, is getting bad press — a lot of bad press. And while shares of Goldman Sachs (GS) may be down by more than 5% this year, they’re still up by about 40% since he took over in 2018. Goldman Sachs did not respond to requests for comment for this article. Before the Bell: What is going on at Goldman Sachs? There have been articles purporting that former Goldman CEO Lloyd Blankfein isn’t happy with the job David Solomon has done and that he has offered to step in to help.

Persons: David Solomon, Goldman Sachs, Marcus, Solomon, they’re, Bell, Jeffrey Sonnenfeld, Lloyd Blankfein isn’t, that’s, Lloyd, he’s, That’s, David, ‘, Juliana Liu, Michelle Toh, ” Julian Evans, Pritchard, Zichun Huang, Hang, Lehman, Hillary, Eva Rothenberg, Harry Reid, Hilary Organizations: CNN Business, Bell, New York CNN, Financial Times, Yale School of Management’s, Leadership Institute, Nokia, BlackBerry, Microsoft, Goldman, People’s Bank of China, Reuters, Capital Economics, Hang Seng, The Bank of Korea, Bank Indonesia, country’s National Bureau of Statistics, Harry, Harry Reid International, San Diego International Locations: New York, Lloyd, China, Hong Kong, Shanghai, Asia, Las Vegas, California, Nevada, Southern California, Idaho

The headquarters of the People's Bank of China, the central bank, is pictured behind an iron chain in Beijing August 30, 2010. REUTERS/Jason Lee/File Photo Acquire Licensing RightsAug 21 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The People's Bank of China is expected to cut interest rates on Monday, but it may have to throw caution to the wind and 'go big' if it is to soothe the nervousness and concern around China currently sweeping through financial markets. Either way, investors will be looking to Beijing and Jackson Hole this week for some degree of assurance and guidance. Here are key developments that could provide more direction to markets on Monday:- China interest rate decision- Thailand GDP (Q2)- Hong Kong inflation (July)By Jamie McGeever; Editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Lee, Jamie McGeever, Jerome Powell, Xi Jinping, Xi, Goldman Sachs, Goldman, Jackson, Diane Craft Organizations: People's Bank of China, REUTERS, People's Bank of, Bank of Korea, Bank Indonesia, U.S, U.S . Federal, Goldman, Barclays, Treasury, Thomson, Reuters Locations: Beijing, People's Bank of China, China, Asia, U.S ., Brazil, Russia, India, South Africa, U.S, Thailand, Hong Kong

On a quarterly, non-seasonally adjusted basis, GDP expanded 3.86%, compared with the poll's prediction of 3.72% growth. Meanwhile, exports contracted 2.75% in the second quarter on a yearly basis, in stark contrast to last quarter's growth of more than 10%. Myrdal Gunarto, economist with Maybank Indonesia, said he might raise his bank's full-year 2023 GDP growth outlook of 5.05%, but described the second quarter data as "a sign that economic activities had peaked". The better-than-expected data may spur monetary policymakers to shift their focus from growth to the current account, as strong domestic demand typically leads to rising imports, said Fakhrul Fulvian, economist with Trimegah Securities, who maintained his full-year 2023 GDP growth outlook at 5%. The government is targeting the same growth rate for 2023.

Persons: Eid, Joko Widodo's, Myrdal Gunarto, Myrdal, Fakhrul Fulvian, Radhika Rao, Stefanno Sulaiman, Fransiska Nangoy, Gayatri Suroyo, Martin Petty, Sonali Paul Organizations: Asia's, Statistics, Reuters, Maybank, Trimegah Securities, U.S ., Bank, DBS Bank, Thomson Locations: JAKARTA, Statistics Indonesia, Maybank Indonesia, Indonesia, Bank Indonesia

☆ Exclusive: TikTok in talks to gain Indonesian payments licence
▼ + stars: | 2023-08-04 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +3 min

A spokesperson for TikTok confirmed on Friday that the talks were taking place, adding that an Indonesian payments licence would help local creators and sellers on its platform. A representative for the central bank, Bank Indonesia, did not respond to a request for comment. A payments licence would enable TikTok to benefit from transaction fees and put it more directly in competition with Southeast Asian e-commerce giants, Sea's (SE.N) Shopee and Alibaba's (9988.HK) Lazada. Douyin, the Chinese counterpart to TikTok that is also owned by ByteDance, obtained a Chinese payments licence in 2020. It was not immediately clear if TikTok has obtained a payments license elsewhere in the world.

Persons: Dado Ruvic, TikTok, Shou Zi Chew, Stefanno Sulaiman, Josh Ye, Edwina Gibbs Organizations: REUTERS, Reuters, TikTok, Bank Indonesia, HK, Lazada, ByteDance, Momentum, Thomson Locations: JAKARTA, Indonesia, U.S, Southeast Asia, Europe, TikTok, China, United States, Montana, Australia, Canada, Hong Kong

July 25 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. BI won't want the rupiah to strengthen too much because exports will suffer, but won't want potential inflation-boosting weakness either. On a year-on-year basis, GDP was expected to have expanded 0.8% in the April-June period, down slightly from 0.9% in January-March. On a quarterly basis, however, Asia's fourth largest economy is expected to have expanded 0.5%, up from 0.3% growth in the first quarter. Here are key developments that could provide more direction to markets on Tuesday:- Indonesia interest rate decision- South Korea GDP (Q2)- Hong Kong trade (June)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Jamie McGeever, Dalian Wanda, Monday's, Xi Jinping, Wall, Dow, Morgan Stanley's Mike Wilson Organizations: U.S, Garden, Dalian, Communist Party, Bank Indonesia, BI, China, Thomson, Reuters Locations: China, Beijing, Indonesia, South Korea, Asia, Korea, Hong Kong

Summary June headline inflation at 3.52% vs 3.64% in Reuters pollCore inflation at 2.58% vs 2.64% in pollSome economists forecast interest rate cut in Q3JAKARTA, July 3 (Reuters) - Indonesia's annual inflation rate in June eased to 3.52%, settling into the central bank's target range for a second straight month, data from the statistics bureau showed on Monday. Headline inflation dropped to its lowest since April 2022 and came in below the 3.64% expected in a Reuters poll and below the 4.00% seen in May. Transportation fares, food prices and rents rose in June, Pudji Ismartini, deputy head of Statistics Indonesia, said in a press conference. The core inflation rate, which strips out government-controlled and volatile food prices, eased to 2.58% in June from 2.66% a month before. The poll had expected 2.64% core inflation.

Persons: Pudji Ismartini, Fakhrul Fulvian, Radhika Rao, Stefanno Sulaiman, Fransiska, Kanupriya Kapoor Organizations: Reuters, Bank, Statistics, BI, Trimegah Securities, DBS, Thomson Locations: JAKARTA, Asia's, Statistics Indonesia

☆ Bank Indonesia to hold key rate at 5.75% for rest of year: Reuters poll
▼ + stars: | 2023-06-20 | by ( Anant Chandak | ) www.reuters.com time to read: +2 min

All 34 economists in the June 14-19 Reuters poll expected the central bank to hold its benchmark seven-day reverse repurchase rate (IDCBRR=ECI) at the conclusion of its June 21-22 meeting. Nearly two-thirds of respondents, 15 of 23, said the key policy rate would remain at that level for the rest of 2023, with eight economists expecting a rate cut this year. "Bank Indonesia was one of the first central banks in the region to pause its tightening cycle earlier this year. Mapa added BI would "only consider cutting policy rates should global central banks opt to ease monetary policy." Median forecasts showed a 25-basis-point rate cut to 5.50% in the first quarter of 2024, a slight downgrade from the 50-basis-point cut expected in a May poll.

Persons: Nicholas Mapa, Khoon Goh, Anant Chandak, Veronica Khongwir, Madhumita Gokhale, Hari Kishan, Ross Finley, Sharon Singleton Organizations: Bank Indonesia, Reuters, " Bank Indonesia, ING, Mapa, U.S, Fed, ANZ, Thomson Locations: BENGALURU, U.S, Europe, Asia

June 19 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Looking ahead and beyond China, investors have two other Asian monetary policy decisions this week to digest - Indonesia's Bank Indonesia (BI) and the Philippines Bangko Sentral ng Pilipinas (BSP) on Thursday. Both are likely to leave policy unchanged, with BI maintaining its benchmark lending rate at 5.75% and the BSP keeping its key policy rate at 6.25%. The broader market tone across Asia on Monday could be one of caution, with investors tempted to take some profits from the recent rally. The annual core CPI rate is expected to ease to 3.1% from 3.4% in April.

Persons: Jamie McGeever, Antony Blinken's, Bank of Korea Governor Rhee Chang, Antony Blinken, Leslie Adler Organizations: People's Bank of, Indonesia's Bank Indonesia, Sentral ng Pilipinas, BI, BSP, Bank of Japan, Bank of Korea, Thomson, Reuters Locations: U.S, People's Bank of China, Beijing, American, China, Philippines, Asia, Japan, Hong Kong

May 22 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. The People's Bank of China is expected to keep key lending rates on hold on Monday, as traders in Asia digest the implications of the G7's stance on China and the tense and fluid situation in Washington regarding the U.S. debt ceiling standoff. In their joint communique on Saturday, G7 leaders said they are looking to "de-risk, not decouple" economic engagement with China. Wider market sentiment on Monday could be set by the mood music in Washington around the debt ceiling. On the other hand, Treasury Secretary Janet Yellen reiterated that June 1 remains a "hard deadline" for raising the debt ceiling.

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