Indonesian Rupiah Flat After Third Consecutive Interest Rate Cut

The Indonesian rupiah traded about flat today despite yet another interest rate cut from the nation’s central bank.
The Bank Indonesia cut interest rates today, including the benchmark 7-day reverse repo rate, which was reduced by 25 basis points to 5.25%. The bank cut rates for the third month in a row. And analysts expect at least one more cut by the year’s end.
USD/IDR was about unchanged at 14,060 as of 18:16 GMT today.

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