JAKARTA : Indonesia's central bank predicts the rupiah will weaken slightly against the U.S. dollar next year, even as the Federal Reserve is expected to hike interest rates several times through to 2023, its governor said on Tuesday.
The governor also gave a 2023 gross domestic product growth projection of 4.7-5.5 per cent, higher than BI's outlook of 4.5-5.3 per cent for 2022. "Export earnings have been able to support the stability of the exchange rate. Foreign currency supply is pretty good," he told a hearing with parliament's budget committee that discussed economic outlook for 2023.
Resource-rich Indonesia has been enjoying an export boom since last year, amid an rise in commodity prices.
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