Preview: Indonesia Jun CPI data expected at 00:00 ET (04:00 GMT)
**Consensus expectations: - CPI M/M: 0.2%e v 0.3% prior; Y/Y: 3.2%e v 3.1% prior - CPI Core Y/Y: 2.6%e v 2.6% prior **Note: Indonesia Central Bank has a 2026 CPI forecast between 1.5-3.5% target range Recent Comments: - On Jun 18th Indonesia Central Bank (BI) raised the BI Rate by 25bps to 5.75% (as expected) for its 3rd straight rate hike under the current tightening cycle. Statement noted that the rate decision was a follow up measure to further strengthen rupiah stabilization efforts. Decision was preemptive step to meet inflation goals. Macroprudential, payment system was directed at pro-growth. To intensify intervention in FX markets. - On Jun 18th Indonesia Central Bank updated its Staff Projections which maintained 2026 Inflation between 1.5-3.5% range. **Insight: Indonesia has now raised the BI Rate three time a total of 100bps. The last hike was in Jun 20206 (last meeting)
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**Consensus expectations: - CPI M/M: 0.2%e v 0.3% prior; Y/Y: 3.2%e v 3.1% prior - CPI Core Y/Y: 2.6%e v 2.6% prior **Note: Indonesia Central Bank has a 2026 CPI forecast between 1.5-3.5% target range Recent Comments: - On Jun 18th Indonesia Central Bank (BI) raised the BI Rate by 25bps to 5.75% (as expected) for its 3rd straight rate hike under the current tightening cycle.
Statement noted that the rate decision was a follow up measure to further strengthen rupiah stabilization efforts.
Decision was preemptive step to meet inflation goals.
Macroprudential, payment system was directed at pro-growth.
To intensify intervention in FX markets. - On Jun 18th Indonesia Central Bank updated its Staff Projections which maintained 2026 Inflation between 1.5-3.5% range. **Insight: Indonesia has now raised the BI Rate three time a total of 100bps.
The last hike was in Jun 20206 (last meeting)