NZD/IDR Flat as Bank Indonesia Shifts Policy to Boost Private Sector Lending

The New Zealand dollar (NZD) is trading flat against the Indonesian rupiah (IDR), currently at Rp10,556. The pair has been consolidating between Rp10,495 and Rp10,617 over the past few sessions.

Bank Indonesia's policy shift aims to discourage banks from holding surplus liquidity in central bank securities, instead encouraging them to lend more to the private sector. This move is expected to boost private sector lending and support the rupiah.

The central bank reaffirmed its commitment to currency stability, inflation control, and economic growth, providing a stable policy backdrop for market participants.

Despite bearish momentum and oversold readings, there is a 52% probability of a near-term rebound if resistance breaks above Rp10,604.