Indonesia: BI seen keeping rates unchanged at its meeting later in the week

Bank Indonesia (BI) is expected to maintain its refi rate unchanged at 3.50% at its event, suggested UOB Group’s Economist Lee Sue Ann.

Key Quotes

“We are of the view that BI will keep its accommodative monetary policy via other macroprudential, and liquidity-supporting measures to effectively transmit the lowering of the benchmark interest rate so far into the economy.”

“We keep our BI rate forecast steady at 3.50% for the rest of the year.”