0202 GMT - Bank Indonesia is likely to cut its policy rate by further 100bps over next few quarters following its 25bps rate reduction on Wednesday, two economists of HSBC Global Research say in an email. HSBC sees rate cuts of 25 bps in 3Q 2025, 50 bps in 4Q 2025, and 25 bps in 1Q 2026, bringing the policy rate to 4.50%. Indonesia's "growth-inflation mix is clearly supportive of more rate easing at a time when fiscal may not be able to solve all the growth problems," the economists say. "The central bank may need to do the heavy lifting to support growth, and this may require BI to let go of the IDR more than it has in the past," they add. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 21, 2025 22:04 ET (02:04 GMT)
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