JAKARTA - A slim majority of analysts polled by Reuters expect Indonesia’s central bank to resume its easing cycle at its policy meeting this week to provide a cushion for the expected economic impact from the coronavirus outbreak.
A cut this week will be the fifth since BI began a monetary loosening cycle in May. BI’s total of 100 bps rate reduction and lending rules relaxation in 2019 were intended to support Southeast Asia’s largest economy amid a global economic slowdown. “The upcoming slowdown would need pre-emptive fiscal and monetary policy responses,” said Sambijantoro, one of the economists who predicted BI would cut rates.
Advocates for leaving rates unchanged believe uncertainties caused by the coronavirus were a reason not to cut rates.
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