“The statement on Saturday can be a start to reduce market pressures but it’s still not enough to sustainably turn the market direction,” said Josua Pardede, chief economist at PT Bank Permata in Jakarta. Authorities should provide details on the remuneration rate, the scale of government deposits and the implications for BI’s costs and the government’s bond issuance as “otherwise, markets could interpret it as a blurring line between fiscal and monetary policy, limiting any positive impact on the rupiah,” he said.