Bank Indonesia’s Warjiyo: July inflation seen at 3.23% y/y, USD/IDR back above 14,000

Bank Indonesia (BI), the Indonesian central bank, Governor Perry Warjiyo was on the wires last minutes, via Reuters, making some comments on the country’s inflation outlook.

Warjiyo said that July inflation is seen at 3.23% y/y while on a monthly basis its seen at 0.23%.

On Thursday, the BI’s newly appointed Senior Deputy Governor Destry Damayanti said that “Indonesia must brace for a long period of global monetary policy easing, which will open the door for more interest rate cuts in Southeast Asia’s biggest economy and a possible surge in foreign inflows”, as cited by Bloomberg.

The Indonesian Rupiah remains on the back foot vs. the US dollar, with USD/IDR flirting with two-day tops of 14,012.50.