BI Is Predicted To Maintain The Benchmark Interest Rate Value, Here's How It Affects JCI

JAKARTA - The Composite Stock Price Index (JCI) ended in the green zone on Wednesday, June 21. JCI strengthened 42.17 points or 0.63 percent to the level of 6,702.62 at the close of trading yesterday.

Phintraco Sekuritas in research said that the JCI movement is expected to be consolidated in the range of 6,670-6,720 on Thursday, June 22. This is supported by Stochastic RSI and MACD which tend to move sideways.

Alrich said the market would oversee the decision of the BI Board of Governors' Meeting (RDG) Thursday afternoon. BI is expected to again maintain the benchmark interest rate at the level of 5.75 percent, following the Fed's latest clue which still has the potential to raise the benchmark interest rate twice in the remainder of 2023.

While external sentiment comes from the Fed's Head Jerome Powell will give a speech to the US Congress tonight.

"The speech is expected to provide clues on how much the Fed has the potential to raise the benchmark interest rate in the future," said Phintraco Sekuritas.

The JCI is expected to be in the resistance area of 6,750 and support 6,660 in today's trading.