Bank Indonesia Hikes Rates to 5.25% to Support Rupiah
Bank Indonesia increased its benchmark interest rate by 50 basis points to 5.25 percent on Wednesday. The central bank's first hike in two years aims to stabilize the rupiah after the currency reached record lows against the U.S. dollar amid global volatility.
Xurve View
Xurve View
Indonesia's central bank raised its benchmark interest rate by 50 basis points to 5.25% at a policy review on Wednesday. This is the first rate hike in two years, exceeding the 25-basis-point increase expected by 16 of 29 economists. The move defends the rupiah after the currency fell about 6% against the United States dollar this year.
