After lowering the 7-day RRR 6 times during 2016, BI should maintain its benchmark interest rate at 4.75 (yoy) at the Board of Governors Meeting next Thursday. Although GDP growth slowed in Q3 2016 at 5.02% (yoy) and inflation remained below target, several major external pressures, especially rising interest rates The Fed which is believed to occur in December 2016 and the OPEC agreement to reduce oil production, limits BI from easing monetary policy at least until early 2017.

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