Interest Rate Cuts Have No Impact on Rupiah Movement
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The interest rate cuts by the United States Federal Reserve (The Fed) and Bank Indonesia (BI) did not affect the rupiah's movement today. The rupiah exchange rate against the US dollar remained at Rp 14,060 on Thursday (September 19th). Ibrahim, Director of PT Garuda Berjangka, stated that The Fed's move to lower its benchmark interest rate by 25 basis points was not overly dovish.
The Fed's stance remains cautious, leaving room for another 25 bps cut in its benchmark rate by the end of the year. Fed Governor Jerome Powell did not rule out this possibility. Furthermore, market players are still awaiting the outcome of the Bank of England (BOE) meeting, which is also expected to lower its benchmark interest rate.
(Read Databoks: [In line with The Fed, BI cuts benchmark interest rate to 5.25%](https://databoks.katadata.co.id/datapublish/2019/09/19/sejalan-dengan-the-fed-bi-pangkas-suku-bunga-acuan-jadi-525))
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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