Bank Indonesia (BI) is expected to maintain its key policy rate at 4.75% through 2026, according to a survey by Reuters. The decision comes as an Iran war-fuelled energy shock increases inflation and weakens the rupiah. With inflation at 3.48% and the currency down about 3.5% this year, BI has little choice but to stay on hold for longer. Economists have largely abandoned expectations for cuts this year. Looking ahead, over 60% of the economists expect BI to keep rates unchanged this year and nine forecast one or more cuts.