Sunday, January 24, 2016

Forex - Indonesia Flows: USD/IDR; BI Sees 2016 GDP Growth Rebounding to 5.2%

BBG/Reuters: Indonesia's growth will start rebounding this yr to 5.2%, from 4.9% last yr, Perry Warjiyo, deputy governor at central bank, speaks at seminar in Jakarta. GDP seen expanding 5.5% in 2017, with impact of China's economic slowdown on Indonesia's growth seen at 0.3%. Inflation seen at 4.3% this year and at 4.4% in 2017. Current-account deficit seen at 2.5% of GDP this year; central bank sees room to ease due to current account. Easing may come in form of rate cut or macroprudential measures, he said, and BI will not target Rupiah level, but will focus on stabilising market irrationality. He expects rupiah to be stable in Q1 and Q2, and strengthen in Q3 and Q4. He also expects prices of commodities exported by Indonesia seen extending decline by 10% in 2016, after falling 15% last year; while falling oil prices should be positive for the economy.

On FX, USD/IDR 1M NDFs were seen trading sideways around 13920 in the Asian morning hours after dipping below 13880 in NY. Spot USD/IDR meanwhile was seen firm, consolidating around 13845, with gains capped below the key 13850 level. Focus is on the strong support at 13800 (5 Jan low). JKSE gapped higher at open, and inched above 4500.0 at last view, up by over 1%. CC

Forex - Indonesia Flows: USD/IDR; BI Sees 2016 GDP Growth Rebounding to 5.2% Rating: 4.5 Posted by: Unknown

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