23 April 2026 Emerging Asia Monitor BI's IDR worries are skin-deep; it's right to expect some retracement

BI remained on hold for a seventh straight meeting; the consensus, like us, now expects a long pause.
BI’s attention remains on IDR stability, for now, but the speed of the sell-off so far is manageable.
We agree with the Bank that the IDR is looking undervalued; it should start to find its feet next year.

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence