The Indonesian rupiah hovered near IDR 17,750 per U.S. dollar on Wednesday, little changed from the prior session as traders awaited the central bank's interest rate decision Thursday. Bank Indonesia began its two-day policy meeting today and is widely expected to maintain its tightening bias after delivering a total of 75bps in rate hikes since May. While tighter monetary policy should help anchor inflation expectations and support the rupiah, elevated borrowing costs could gradually weigh on domestic demand. On the fiscal front, local media reported that the government has cut the budget for its flagship Free Meal Program by an estimated IDR 67 trillion as President Prabowo seeks broader spending efficiency. Jakarta also reaffirmed that subsidized fuel and LPG prices will remain unchanged. Globally, the U.S. dollar index was flat as markets awaited the Fed's policy decision, where interest rates are widely expected to remain unchanged at the first meeting chaired by Kevin Warsh.