JAKARTA - The Composite Stock Price Index (JCI) managed to break the 7,000 level this morning after closing lower yesterday. For information, yesterday Bank Indonesia decided to increase the BI 7-Day Reverse Repo Rate (BI7DRR) by 50 bps to 4.75%, the Deposit Facility interest rate by 50 bps to 4.00%, and the Lending Facility interest rate by 50 bps to 5.50%.
As reported from CNBC Indonesia, the market estimates that the Fed will raise its benchmark interest rate in November. 95.1% of market participants predict the Fed will raise interest rates by 75 bps.
In addition, the market is still waiting for data on China's Gross Domestic Product (GDP) in the third quarter which has yet to be released.
At 09.52 WIB, the JCI was observed to be at 7,021.26. (LM)