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BI seen reducing rates in March – UOB

Economist Lee Sue Ann at UOB Group suggested the Bank Indonesia (BI) could cut the key rate by 25 bps at the March meeting.

Key Quotes

“At the January meeting, BI decided to keep its 7-day Reverse Repo Rate unchanged at 5.00%. BI reiterated that the monetary policy will remain accommodative; consistent with low inflation expectations, maintained external stability, and efforts to support the domestic economic growth. We are sticking to our call for BI to shade its benchmark rate lower by 25bps to 4.75% at the March meeting.”

GBP Futures: Extra losses in the pipeline

CME Group’s flash readings noted investors added around 2.1K contracts to their open interest positions on Monday. Volume, too, went up by nearly 44.3
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Forex Today: China coronavirus damage shrugged off by markets, RBA boosts AUD, pound licks wounds

Here is what you need to know on Tuesday, Coronavirus: The number of infections has topped 20,000 and a second death has been confirmed out of mainlan
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