HALISTER1: INSIDE INDONESIA: Rupiah Gains; Policy Package This Week: Daily

INSIDE INDONESIA: Rupiah Gains; Policy Package This Week: Daily

(Bloomberg) -- Rupiah rises along with other Asian currencies, though still headed for first monthly decline since Nov.; govt plans to announce 13th economic policy package this week, Investor Daily Indonesia reports.
  • Coal output seen falling this year on costs, competition
  • Seems to be room for Bank Indonesia to loosen policy given current inflation, DBS economists write in note received May 30
    • Doesn’t necessarily mean rate cut; recent comments from BI officials suggest they may ease loan restrictions to boost loan growth, which remains sub-10%
  • International funds were net buyers of 2.8t rupiah ($205m) in Indonesian bonds on May 27, according to finance ministry data; net buyers of $42.3m in local equities yesterday, according to exchange data
  • Rupiah up 0.1% to 13,633 per dollar; down 3.3% this month
  • Yield on 8.375% govt bond due Sept. 2026 rose yday for first time in four days, up 2 bps to 7.876%, according to IDMA data
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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