Indonesia surprises by hiking interest rates to seven-year high

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Indonesia News

Interest Rate Hike,Bank Indonesia

JAKARTA, April 24 — Indonesia’s central bank hiked interest rates today to their highest for seven years, an unexpected move to boost the rupiah, which continues to weaken...

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Economists had predicted Bank Indonesia to hold the seven-day reverse repurchase rate at six per cent but it instead raised it 25 basis points to 6.25 per cent, a level not seen since 2016.“The interest rate increase is to strengthen the rupiah’s exchange rate stability against the possibility of worsening global risks,” Bank Indonesia governor Perry Warjiyo told a news conference Wednesday.

Source: Loan Digest (loandigest.net)

Interest Rate Hike Bank Indonesia

 

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