JAKARTA -Indonesia's central bank raised its policy rates by 50 basis points on Thursday, for the second month in a row, as it sought to curb rising inflation, while trying to slow capital outflows that have weighed on the rupiah.
Governor Perry Warjiyo said the decision was aimed at bringing core inflation back within a range of 2.0 per cent-4.0 per cent earlier than previously targeted - in the first half rather than the third quarter of next year. "The decision to increase the interest rate is a front loaded, pre-emptive, and forward-looking measure to reduce inflation expectations which are currently too high," he said in a news conference.
It started tightening monetary policy later than some of its peers, as inflation had stayed benign, with some energy prices kept unchanged thanks to government subsidies.
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