FXStreet (Edinburgh) - In the view of Strategist at TD Securities Cristian Maggio, the Bank Indonesia would keep its policy stance unchanged at tomorrow’s meeting. Key Quotes “Bank Indonesia will announce interest rates tomorrow and we expect, in line with the unanimous consensus, the reference rate (7.50%), the O/N depo rate (5.50%) and the lending facility rate (8.00%) to remain all unchanged”. “BI has been reiterating for some time that the rupiah remains undervalued to the dollar, even after the recent rally that has led to an 8% appreciation since early October, the strongest EMFX performance”. “Recent moves, however, are only partly dictated by local factors (liquidity management measures from BI and the government, and the announcement of a third and fourth economic stimulus package); much of the recent IDR strength depends on the reversal of general risk aversion at the start of October”. “Therefore, with so much still depending on external factors that go beyond the control of BI, we can expect the MPC to remain wary of the implications of global uncertainties”. For more information, read our latest forex news.