FX BANK FORECAST · COVERAGE
Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 30 institutional desks. No promotion.
BI Rate
5.75%
as of 2026-04-23
Next meeting
Jul 21-22
T-10d
Bank Indonesia is the central bank of the Republic of Indonesia, with a mandate to achieve and maintain rupiah stability covering both price and exchange-rate stability. Monetary policy decisions are taken at the monthly Board of Governors Meeting (Rapat Dewan Gubernur), conducted over two days with the policy announcement on day two.
Policy decisions are announced on the dates above. Source: official central bank schedules.
BI Rate
5.75%
As of 2026-04-23
Next macro event
Interest Rate Decision
Reports referencing BI across covered research desks
| Balance of Trade (Jun) | ID | Med | 1.8 B | -1.61 B |
| Inflation Rate YoY (Jul) | ID | Med | — | 3.34% |
| GDP Growth Rate YoY (Q2) | ID | Med | 5.3% | 5.61% |
5 most-recent items prefer LLM synthesis where available
The desk interprets Bank Indonesia's recent 50 basis point rate hike as a tactical move aimed at stabilizing the Rupiah rather than a full reversal of its weakening trajectory. Per the full note by…
The desk emphasizes that Bank Indonesia's unexpected 50bp rate hike is a strong signal of its commitment to stabilizing the weakening Indonesian rupiah (IDR). Despite the increase in rates aimed at…
The desk views the Indonesian rupiah as currently stabilized by recent government actions and central bank interventions, despite ongoing political protests. Per the full note from MUFG EMEA, Bank…
The desk anticipates a bearish outlook for the Indonesian rupiah, driven by the potential for further monetary easing from Bank Indonesia (BI) amid a slowing economy. Per the full note from MUFG…
Speech by Ms Chiara Scotti, Deputy Governor of the Bank of Italy, at the "6th Dolomiti Macro Meeting", organised by Free University of Bozen, BI Norwegian Business School, Centre for Applied…
The next Bank Indonesia (BI) policy decision is scheduled for Jul 21-22. Because Bank Indonesia sets monetary policy for the IDR, its rate decisions and forward guidance are among the most important scheduled catalysts for IDR exchange rates, and sell-side FX desks reposition their IDR forecasts around each meeting. FX Bank Forecast tracks how the major investment banks' IDR targets shift before and after BI decisions, so you can see whether the consensus is moving with the policy path or diverging from it. Watching the cross-bank reaction to each meeting is often a more durable signal than any single house call.
Bank Indonesia's policy lean is read from its most recent decisions and guidance. A more hawkish stance — biased toward higher-for-longer rates — tends to be supportive of the IDR, while a dovish, easing-biased stance tends to weigh on it, though the market reaction always depends on what was already priced in. What matters for IDR forecasting is less the stance in isolation than how it compares with what investment banks expected and how it shifts the projected rate path. FX Bank Forecast aggregates how 30 major banks read the BI path and translates it into where the IDR consensus and its dispersion sit.
Monetary-policy expectations are one of the dominant drivers of currency moves, so Bank Indonesia's decisions — and, just as importantly, how they compare with other central banks — feed directly into where strategists set their IDR targets. Relative policy paths (the BI versus the Fed and other majors), the pace of cuts or hikes, and the tone of guidance are the channels through which BI actions transmit into the IDR. FX Bank Forecast compares the published IDR forecasts of 30 major investment banks side by side and shows how that consensus — and the spread of views around it — shifts as the BI outlook evolves.