Indonesia hikes policy rates by 50 basis points
Bank Indonesia (BI) today raised its reference and deposit facility interest rates for the second time this year as it tries to balance rising inflation in a cooling economy amid sharp depreciation in the rupiah.
Following a surprise 25-basis-point hike in June, the central bank increased its policy rate another 50bp to 6.5% at the conclusion of its July monetary policy meeting. The deposit facility rate – also known as the Fasbi rate – was hiked to 4.75% from 4.25%. Headline inflation in the
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