Our best spreads and conditions

Economists at Standard Chartered analyze Indonesia’s macroeconomic outlook and share their forecast for the Rupiah (IDR.)
We expect 2024 GDP growth to pick up to 5.2% YoY on a continued cyclical recovery, election spending, and still-healthy demand for Indonesia’s main export commodities.
We expect BI to start cutting rates in H2, with a risk of an earlier cut should the Fed move faster on a sharper US economic downturn.
We stay constructive on the Indonesian Rupiah and see USD/IDR appreciating to 15,000 by end-2024 on resumed portfolio flows.