USD/IDR Price News: Rupiah stays close to monthly lows of 14,380 after Bank Indonesia’s status-quo

Indonesia’s central bank, Bank Indonesia (BI), made no changes to its benchmark 7-day reverse repo, leaving it at 3.50% during its June monetary policy meeting held this Thursday.

The central bank governor Perry Warijyo said that a rise in covid cases remains a risk to the GDP growth.

Additional comments

Fed statement reduces uncertainty.

Household consumption, manufacturing activity, exports improve in Q2.

Maintains 2021 GDP outlook at +4.1% to +5.1%.

Keeps 2021 current account deficit estimate at 1% to 2% of GDP.

To continue strengthen rupiah stabilisation measure.

2021 inflation YoY seen within 2%-4% target range.

2021 net liquidity injection amounting to 94.03 trillion rupiah.

2021 bond purchase in primary market amounting to 116.26 trillion rupiah.

more to come ….