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Indonesia: BI succession supports Rupiah stability – DBS

DBS Group Research’s Radhika Rao reports that Indonesia’s onshore markets welcomed President Prabowo’s nomination of Deputy Governor Destry Damayanti as the next Bank Indonesia Governor.

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Indonesia: BI succession supports Rupiah stability – DBS

Indonesia's onshore markets welcomed President Prabowo's nomination of BI Deputy Governor Destry Damayanti as the next Central Bank Governor. Radhika Rao of DBS Group Research asserts that an experienced, independent technocrat at the helm should maintain confidence in the monetary framework. The Rupiah showed stabilization below 18000/USD, with bond yields easing, suggesting scope for the Bank Indonesia to maintain current interest rates this month.

President Prabowo's choice of Destry Damayanti, a former BI official, indicated a preference for a market-friendly, technocratic candidate. Investors viewed the nomination as reassurance that the central bank remains under an experienced, independent leader, crucial for sustaining confidence in the monetary policy framework and its institutional autonomy.

A relatively strong second-quarter growth report and stable rupiah provided a case for the Bank Indonesia to keep rates unchanged for the month.

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·hani.co.kr

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