Permata Bank Chief Economist Josua Pardede projects the rupiah exchange rate on Thursday will move in the range of Rp16,225-Rp16,350 per United States (US) dollar.
The rupiah exchange rate at the opening of trading today in Jakarta weakened by 4 points or 0.02 percent to Rp16,275 per United States (US) dollar from Rp16,271 per US dollar previously.
The July 2025 Federal Open Market Committee (FOMC) Minutes show that the Federal Reserve (The Fed) is still more focused on inflation risks than on the condition of the US labor market, particularly regarding the impact of US President Donald Trump's tariff policies.
"Although Michelle Bowman and Christopher Waller (both senior Fed officials) expressed a different opinion, supporting a 25 bps ( basis points ) interest rate cut, the majority of members believe the risk of inflation is greater than the weakening of the job market.
This is thought to have made investors tend to be cautious ahead of Fed Governor Jerome Powell's speech to gain a clear view regarding the prospects for monetary policy easing.
The latest data is said to further strengthen concerns about inflation and question the resilience of the US labor market, leaving investors uncertain about the direction of the Fed's future policy.
