0246 GMT - Indonesia's central bank is expected to keep its benchmark seven-day reverse repo rate unchanged at 5.75% on Wednesday, according to five of seven economists polled by The Wall Street Journal. The other two economists expect Bank Indonesia to cut the rate by 25 bps to 5.50%. Rupiah stability remains a key concern, especially as global market conditions are unfavorable, ANZ economist Bansi Madhavani says in a note. The rupiah's relative outperformance was one reason for the January rate cut; however, since then, the rupiah has underperformed compared with its regional peers, he flags. BI's easing bias suggests further cuts are possible, with timing dependent on external factors, he adds. Given the Fed's anticipated single 25bp cut this year, ANZ thinks BI may also cut by 25 bps. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
February 16, 2025 21:46 ET (02:46 GMT)
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