Selling Pressure ahead of BI Interest Rate Announcement. Market players are relatively cautious ahead of the announcement of the Bank Indonesia Seven Days Reverse Repo Rate (BI 7-DRRR) benchmark interest rate. Based on market expectations, BI again held the BI 7-DRRR for the November period at 3.50% or the lowest level since February 2021. Low interest rates are still needed amid the domestic economic recovery. For the record, the Indonesian economy in the 3Q21 period was 1.55% QoQ or slowed down compared to 2Q21 which grew to 3.31% QoQ.
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