0140 GMT - The Indonesian central bank's decision to hold rates underscores its commitment to safeguarding the rupiah and should help steady the currency, CIMB analysts say. BI reassures of continuous triple intervention in the market to stabilize the IDR, noting that pressure on the currency persists due to factors like the limited scope for Fed cuts, Joel Cheung and others write. The rate pause affirms their view that BI's easing cycle remains data-dependent and gradual. BI reaffirms that monetary policy is driven by both domestic and global developments, adding that global financial market uncertainties have been exacerbated by U.S. tariff policy, the analysts note. They forecast in one 25bps cut per quarter, bringing the policy rate to 5.00% by end-2025.(fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 20:40 ET (01:40 GMT)
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