Bank Indonesia avoids rate cut on price fears

Bank Indonesia's rate-setting board voted to keep rates on hold at 8% on Tuesday after inflation remained way above the central bank's medium-term target in December.

Year-on-year inflation measured 6.59% in December, more than three-and-a-half percentage points above the central bank's 3% target for the medium-to-long term.

Inflation has fallen slightly in recent months since peaking at 6.95%. However, Burhanuddin Abdullah, the governor of the central bank, said on Tuesday that price growth

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