Indonesian current account deficit will likely continue well into next year, although it will not be as severe as in the second quarter, Mandiri Sekuritas Aldian Taloputra says. "The BI rate being kept steady is within expectations, especially amid manageable inflation. More interesting is whether the recent trade surplus can be sustained and how quick the current account can recover," he says. Bank Indonesia notes in a statement after its monthly rate-setting meeting that current account deficit likely hit 2.4% of GDP in 3Q, narrowing from 3.5% in 2Q. Taloputra forecasts the USD/IDR to fall to 9,500-9,600 in 2013 vs 9,670 at the end of 2012.
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