Bank Indonesia delivers another 50bp rate rise
Governor Perry Warjiyo describes the rate hike as a pre-emptive move
Indonesia’s central bank raised its benchmark interest rate today (October 20) for a third straight month to curb rising inflation, bringing the rate to its highest level since February 2020.
Bank Indonesia lifted its seven-day reverse repurchase rate by 50 basis points to 4.75%, following a 50bp increase in September and a 25bp hike in August.
The decision was in line with market expectations. A recent poll by Reuters found 17 out of 30 economists expecting a 50bp rate increase, with the rest
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