The Indonesian rupiah firmed to around IDR 16,680 per dollar on Wednesday afternoon, rebounding from an intraday low near 16,710 after the central bank left its benchmark rate unchanged at 4.75% for a third straight meeting, in line with expectations. Governor Perry Warjiyo said the decision aimed to preserve currency stability and enhance policy transmission. The board has cut rates by a cumulative 150bps between September 2024 and September 2025 to support growth. Meantime, fresh data suggest the easing cycle is gaining traction, with loan growth rising to a five-month high of 7.74% in November even as undisbursed facilities remain elevated. Warjiyo reiterated that policymakers will continue to assess the scope for further easing, with inflation projected to stay within the 1.5%–3.5% target next year, contingent on recovery efforts following a major disaster in Sumatra. Globally, the dollar index edged higher, with mixed U.S. labor data leaving Fed policy expectations little changed.