0227 GMT - Bank Indonesia's rate decision this afternoon is likely to be a close call, according to DBS economist Radhika Rao. While the recent easing in rupiah depreciation clears the way for a follow-up rate cut, the case for the central bank to bide its time and cut in March is equally compelling, she writes. DBS believes Indonesia's monetary policy will need to do more of the heavy lifting in supporting growth this year, as the government's focus remains on fiscal consolidation amid efforts to raise revenue collections. DBS expects BI to cut rates by at least another 50 bps this year, with the timing to be determined by the rupiah's movements and Fed actions amid signs of stalling disinflation in the U.S. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
February 18, 2025 21:27 ET (02:27 GMT)
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