Gross domestic product rose 6.17 percent last quarter, the
statistics bureau said today, matching analyst estimates and
compared with 6.37 percent in the previous period. Overseas
funds raised holdings of local debt to 250.75 trillion rupiah
($26 billion) on Nov. 1, the highest since September 2011,
finance ministry data show. Bank Indonesia will probably keep
its reference rate at 5.75 percent on Nov. 8, according to all
16 analysts in a Bloomberg survey, even after South Korea,
Thailand and the Philippines cut borrowing costs last month.

“Foreign investors have been buying aggressively,” said
Handy Yunianto, the head of fixed-income research at PT Mandiri
Sekuritas, a unit of the nation’s largest bank by assets.
“While other nations had to cut rates to boost their economy,
Indonesia is still going strong.”

The yield on the government’s 7 percent notes maturing in
May 2022 dropped one basis point, or 0.01 percentage point, to
5.62 percent as of 3:41 p.m. in Jakarta, the lowest level since
March 5, prices from the Inter Dealer Market Association show.

The rupiah declined 0.2 percent to 9,630 per dollar, prices
from local banks compiled by Bloomberg show. The currency
reached a three-year low of 9,664 on Nov. 1. One-month implied
volatility, which measures exchange-rate swings used to price
options, held at 5 percent.