USD/IDR Price News: Indonesian rupiah nears two-year lows at 15,495 post-BI comments

Perry Warjiyo, Bank Indonesia (BI) Governor made some comments on the country’s growth and inflation outlook, during his appearance on Wednesday.

Key quotes

2022 GDP growth seen around 5.2%.

Sept inflation was below our prediction.

We see inflation at end-2022 at 6.3%, below previous outlook of 6.6-6.7%.

Core inflation peak outlook also revised down to 4.3% from 4.6% previously.

Predicts loan growth could grow 11% in 2022, 10% in 2023.

Our inflation is below rates in other countries, we do not have to hike aggressively.

Coordinating closely with other regulators to increase resilience of financial sector.

2023 GDP growth seen at 4.6%-5.3%.

We seek to maintain a balance between financial stability and GDP growth.

Market reaction

Amid mixed comments from the Governor, USD/IDR is rebounding towards two-year highs of 15,495. The pair is adding 0.12% on the day to trade at 15,483, as of writing.