18 June 2026 (closed)
Jakarta Composite Index (6,172.34) -48.40 -0.78%
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The central bank of Indonesia (Bank Indonesia) is aggressively raising its benchmark interest rate (BI Rate) to support the rupiah rate, while it might also be expecting a significant acceleration in Indonesian inflation after the cabinet raised the price of Pertamax fuel by 32 percent on 10 June 2026.
The benchmark stock index of Indonesia (Jakarta Composite Index) soared by 4.12 percent on Monday (15 June 2026) amid surging markets after news broke that the United States and Iran are to sign a peace deal (that also involves the Israeli conflict in Lebanon).
Some might say that we live in a period where market logic is hard to analyze. This sentiment resurfaced after the announcement that Indonesia's state sovereign wealth fund Danantara attracted a peak orderbook for its debut US dollar bond sales of around USD $4.6 billion, which is over three times the total issuance size.
Seeing the fragile rupiah, Bank Indonesia did not want to wait for its next scheduled monthly monetary policy meeting on 17-18 June 2026. Instead, the central bank of Indonesia raised its benchmark interest rate (BI Rate) by 25 basis points (bps) to 5.50 percent on Tuesday 9 June 2025.
