22 December 2023 Emerging Asia Monitor BI's Next Move Will Be Downward, but Cuts Won't Come until Q2

Bank Indonesia’s rebranded benchmark rate—the BI rate —was held at 6.00%, as universally expected.
BI understandably urged caution on food inflation, but base effects here will soon give a helping hand.
With the core still subdued, the headline should fall below BI’s new target in Q2, paving the way for cuts.

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