(Bloomberg) -- Indonesia's rupiah rose for the first
time in four days on speculation the central bank will cut
interest rates at its June meeting, feeding demand for bonds and
stocks.
The currency gained after Bank Indonesia Governor
Burhanuddin Abdullah at the end of last week said the central
bank forecasts its benchmark policy rate will be 7.5 percent at
the close of 2008, versus 8.75 now. Falling interest rates
helped increase foreign ownership of the 442 trillion rupiah
($50.8 billion) government bond market to a record 16 percent
last month.
Read more at Bloomberg Currencies News
time in four days on speculation the central bank will cut
interest rates at its June meeting, feeding demand for bonds and
stocks.
The currency gained after Bank Indonesia Governor
Burhanuddin Abdullah at the end of last week said the central
bank forecasts its benchmark policy rate will be 7.5 percent at
the close of 2008, versus 8.75 now. Falling interest rates
helped increase foreign ownership of the 442 trillion rupiah
($50.8 billion) government bond market to a record 16 percent
last month.
Read more at Bloomberg Currencies News
No comments:
Post a Comment