BI 7DRRR was maintained at 3.50%. Investors started to pay close attention to the Bloomberg survey, projecting BI to maintain BI 7DRRR at 3.50% in the May Board of Governors’ Meeting on Tuesday (24/05). This is in contrast with FFR which has now jumped by 75 Bps, and is projected to increase by 50 Bps in June. Last week, rupiah was also depreciated to IDR 14,625/USD. This week, investors look forward to the April trade balance data which is expected to be a surplus of +USD 4.2 billion (vs. March +USD 4.5 billion), 6.5% MoM lower. In the four-day trading week, NHKSI Research projects JCI to move in the range of 6,500-6,900.
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