Insider Stories - Indonesia reported a unexpectedly large trade surplus for November, while inflation was steady in December, which analysts said it may give Bank Indonesia room to keep its key rate steady next week.
Data from the Central Statistic Agency (BPS) shows a trade surplus of $780 million in November. That compared to the revised surplus for October of $30 million (BPS previously reported the figure was $50 million).
The rupiah, which has been under pressure from soaring current account deficit and massive capital outflows, appreciated slightly following the news, to 12,200 per dollar from 12,205, compared with the previous close of 12,160 on Tuesday.
November's exports declined 2.4 percent on an annual basis, but imports fell 10.55 percent as demand was subdued, partly due to the weak rupiah has raised import costs.
Bank Indonesia has raised its key interest rate by 1.75 percentage points since June to 7.50 percent.
The upcoming policy rate meeting is on Jan. 9.
November's surplus was the biggest since March 2012, and it means Indonesia has had a consecutive monthly trade surpluses for the first time since August-September 2012.
BPS revised the surplus for October to $30 million from the previously-reported $50 million.
Indonesian authorities has said that the current-account deficit in 2013's third quarter was 3.8 percent of gross domestic product. That was bigger than an earlier estimate for the period, but smaller than the record high 4.4 percent in April-June.

INFLATION
BPS data also showed annual inflation in December was 8.38 percent, edging up from the previous month's 8.37 percent.
In 2012, inflation was only about half of the 2013's level, at 4.3 percent.
On a month-on-month calculation, the headline inflation rate in December rose 0.55 percent compared to 0.12 percent the previous month.