JAKARTA: Indonesia's central bank is expected to keep its benchmark rate on hold at a meeting on Thursday, one day after the country's presidential vote, a Reuters poll showed.
All 11 analysts in the poll said the key reference rate would be maintained at 7.50 percent, where it has been since November, amid persistent pressure from the current account deficit and uncertainty about the election.
Bank Indonesia officials have said they will continue to adopt a tight monetary policy to seek to keep the current account deficit at 3 percent of gross domestic product (GDP). In 2013, during which the rupiah weakened more than 20 percent against the dollar, the deficit was3.3 percent of GDP last year.
Indonesia posted a trade surplus of $70 million in May, compared with a $1.96 billion deficit in April. Annual inflation eased to 6.70 percent in June from 7.32 percent in May.
The analysts in the poll also expected Bank Indonesia to keep the deposit facility rate, or FASBI unchanged at 5.75 percent, and the lending facility rate unchanged at 7.50 percent.
All of the analysts who had a view at the benchmark rate at the end of 2014 said they expected it to remain 7.50 percent.
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