fxstreet.com 22 Feb, 2021 11:45 am

End of the BI’s easing cycle? – UOB

Economist at UOB Group Enrico Tanuwidjaja and Haris Handy assess the latest interest rate decision by the Bank Indonesia (BI). Key Quotes “Bank Indone

BI stated that the decision is in line with low inflation expectation, anchored external stability, and the continued need to stimulate momentum for national economic recovery.8%); noting a weaker than expected 4Q20 growth and concerns that COVID-19 case resurgence could slow economic recovery further.BI will remain accommodative and also ensuring ample liquidity to remain as long as it is necessary to support the process and progress of Indonesia’s economic recovery.” “During the rate cut announcement, the central bank also downgraded its growth outlook to 4.

” “Given all those factors, we continue to reaffirm our view that February MPC rate cut is likely to mark the end of the rate cut cycle by BI.50% at its February 2021 monetary policy meeting (MPC) as it sought to support the COVID-19 hit economy… Consequently, BI lowered the Deposit Facility rate to 2.

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