Indonesia's Surprise Rate Hike May Not Be the Last, Economists Say [BNN Bloomberg (Canada)]
PT BANK CENTRAL UNSP/ADR (PBCRY)
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Source: BNN Bloomberg
Its currency remains vulnerable in the face of an unclear Federal Reserve rate path and elevated geopolitical tensions, coupled with corporate dollar demand for dividends and debt payments. Governor Perry Warjiyo's rupiah guidance — that it will likely average 16,200 per dollar this quarter — reflects those risks. BI's unexpected rate hike to 6.25% on Wednesday, paired with incentives to boost lenders' liquidity to keep ramping up credit, risks impairing the effectiveness of the central bank's policy tools. The rupiah fell on Thursday, along with many Asian currencies. “The decision to tighten the monetary policy while at the same time loosening the macroprudential policy may deprive the market of a clearer policy signal,” economists in PT Bank Central Asia in Jakarta said. Here's what economists are saying: Krystal Tan, Australia & New Zealand Banking Group Given the still-elevated external uncertainties, particularly of the Fed rate trajectory, further hikes can't be rule
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