Bank Indonesia tight monetary policy remains

INDONESIA - Indonesia's central bank said on 1 June that the country's political instability would prevent it from loosening monetary policy in the short term, even though the ailing rupiah has shown some strength.

"Right now, the time is not right for Indonesia to loosen monetary policy," bank governor Sjahril Sabirin told reporters.

"We will still impose rather tight policies. It's because we need this considering the country's condition."

The central bank has been raising rates for months to