“Early assessment of COVID-19 curbs shows 2021 GDP growth can be below earlier forecast,” Bank Indonesia (BI) Governor Perry Warjiyo said in a speech on Monday.
Additional comments
Measures needed to mitigate the impact of mobility restrictions, private consumption.
2021 GDP growth seen at 3.8% under early assessment.
Continues to conduct fx market stabilization measure.
Inflation still low, due to weak demand.
Inflation in 2021 seen below 3%.
Market reaction
The Indonesian rupiah is reversing the bullish opening gap amid a broad US dollar rebound and the downbeat comments from BI Governor Warjiyo.
USD/IDR now trades at 14,491.5, down 0.23% on the day, having reached three-day lows at 14,477.5 earlier today.
