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Mr David noted that the strength of the rupiah – which had surged on expectations of a rate cut within the US – had helped make BI’s own move attainable. When the Fed reduce its interest rate three times in 2019, BI also did so, making four changes that 12 months. The central financial institution had anticipated the Fed’s transfer, so it adjusted its personal policies hours earlier than, explained Mr David Sumual, chief economist of Bank Central Asia , Indonesia’s largest personal financial institution. Both countries have tracked the Fed’s closely, as…
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