JAKARTA: Indonesia's central bank will likely keep its benchmark reference rate on hold at its policy meeting on Thursday as the rupiah stays under pressure from an expected tapering in US stimulus, a Reuters poll showed.
Eight out of 11 analysts in the poll projected that the benchmark reference rate would be kept unchanged at 7.50 percent.
Analysts say recent data has shown an improvement in the country's trade balance and Bank Indonesia may wait for the full effect of a 175-basis-point rate increase since June to filter through the economy.
Five analysts out of 6 who gave forecasts for the first quarter next year predicted Bank Indonesia would raise rates when pressure on the rupiah is expected to intensify from a scaling back of US monetary stimulus.
The poll's median projection for the deposit facility rate, or FASBI, was unchanged for December. However, five analysts estimated a higher rate between January and March next year, in line with a rise in the reference rate.
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