Indonesia posted its widest monthly trade deficit in history in April as exports slumped, while the pace of fall in imports was slower than expected, data from the statistics bureau showed on Wednesday.INDONESIA posted its widest monthly trade deficit in history in April as exports slumped, while the pace of fall in imports was slower than expected, data from the statistics bureau showed on Wednesday.
Bank Indonesia has been pressured to cut interest rates after the US Federal Reserve turned dovish and Indonesian data, including benign inflation and weakening gross domestic product growth, augur well for such a move. All 20 analysts in a separate Reuters poll forecast BI to keep its main interest rate unchanged for a sixth straight policy meeting on Thursday, as rising US-China trade tensions renew pressure on the rupiah.
On a monthly basis, imports of food like frozen beef, soyabeans and fruits rose as the Muslim-majority country prepared for the fasting month of Ramadan."The challenges in 2019 are extraordinary, the global economy is weakening, our trade partners as well. So like it or not, we will be affected," he said, noting that Beijing's trade war with Washington has also increased uncertainty.
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