Indonesia holds while Philippines cuts
Policy rates for both countries now stand at 6% as inflation slows
The central banks of Indonesia and the Philippines both announced monetary policy decisions today (October 16), with the former holding rates and the latter cutting them.
Bank Indonesia held its benchmark BI-rate at 6%. It also maintained its overnight deposit and lending facility rates at 5.25% and 6.75%, respectively.
In a statement, the BI said the focus of short-term monetary policy was on the stability of the domestic currency amid increasing uncertainty in global financial markets. The
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