USD/IDR: Rupiah holds near monthly lows on Bank Indonesia’s status-quo

At its November monetary policy meeting on Thursday, Indonesia’s central bank, Bank Indonesia (BI), left its 7-day reverse repo rate unchanged at 5.00%, as widely expected. The central bank stood pat after four successive rate cuts since July.

The latest Reuters poll showed that 20 of 24 economists believed that Bank Indonesia (BI) will keep the key rate unchanged this week at 5.00%.

The central bank Governor Warjiyo noted that global growth has the potential to improve going forward despite the US-China trade war.