March 13, 2018 / 10:40 AM / a year ago

Indonesia says monetary position remains neutral

JAKARTA, March 13 (Reuters) - Indonesia’s central bank governor on Tuesday reiterated there was limited room for easing monetary policy and that the bank remained in a neutral position despite pressures on the rupiah exchange rate.

“In general Bank Indonesia’s position is neutral and that the room for easing has become limited. But that does not mean we are going to raise the interest rate because we will be reviewing many things,” Governor Agus Martowardojo told reporters.

Martowardojo also said economic growth in the first quarter of this year was expected to be better than the 5.01 percent growth rate in the first three months of 2017.

But growth would not be as strong as the 5.19 percent recorded in the final quarter of last year, he added.

The rupiah touched a two-year low of 13,800 per dollar earlier this month, but has strengthened slightly since and was trading at 13,746 a dollar at 10:28 GMT. BI’s next monetary policy meeting is on March 21-22. (Reporting by Maikel Jefriando Writing by Gayatri Suroyo; Editing by Himani Sarkar)

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