Indonesia's central bank is likely to begin an easing cycle with a rate cut...
JAKARTA - Indonesia’s central bank is likely to begin an easing cycle with a rate cut on Thursday, ahead of an anticipated Federal Reserve reduction of U.S. rates at the end of July, the majority of analysts in a Reuters poll said.
In the poll, 23 of 33 analysts predicted BI will make a 25 basis point trim in the benchmark 7-day reverse repo rate IDCBRR=ECI to 5.75% - which would be the first cut since September 2017 - on Thursday. The other 10 expect BI to hold. Last month, when BI trimmed a reserve requirement ratio, Governor Perry Warjiyo said it was a “matter of timing” before a benchmark reduction.
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