Bank Indonesia Expected to Hold Rates at 4.75%—Rupiah Down 3% Year-to-Date

A Reuters poll of 31 economists forecasts Bank Indonesia will hold its policy rate at 4.75% at its April meeting, with March CPI at 3.48% approaching the upper bound of the 1.5-3.5% target. The rupiah has depreciated roughly 3% since year-start amid capital-flight pressures.