Bank Indonesia Holds Key Rate Unchanged Seventh Consecutive Meeting

Bank Indonesia maintained its benchmark interest rate unchanged for the seventh consecutive meeting, balancing rupiah support against growth concerns. The central bank avoided both a rate cut that could weaken the already pressured rupiah and a hike that might damage economic sentiment. USD/IDR is the primary pair affected as the rupiah remains under pressure. The hold suggests continued FX intervention to support the currency, creating potential volatility for Indonesian rupiah crosses.