Bank Indonesia announces second rate hike in two weeks
First meeting under new governor reflects central bank’s focus on currency stability
Bank Indonesia has announced its second rate hike in two weeks in an attempt to tackle the weakness of the rupiah and to stem capital outflows.
This additional policy meeting, announced by the central bank on May 25 and held today (May 30), is also the first meeting hosted by new governor Perry Warjiyo after he took the helm on May 24.
The Indonesian central bank raised the seven-day reserve repo rate by 25 basis points to 4.75% – an action that was widely expected. The decision followed a
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