Bank Indonesia’s Warijyo: Expect lower than usual Ramadan inflation

Speaking on inflationary pressures this Wednesday, Bank Indonesia’s (BI) Governor Perry Warijyo said that inflation during Ramadan fasting month expected to be lower than the historical pattern.

Additional quotes

April inflation m/m seen at 0.22%, YoY at 2.82%.

Reiterates full-year 2020 inflation to remain within target.

USD/IDR reaction

Despite the renewed weakness in the US dollar across the board, USD/IDR rises 0.88% to 15,535 levels. The cross meanders near two-week lows reached earlier this week at 15,412.50.