Indonesia hikes policy rates by 50 basis points

indonesia-rupiah

Bank Indonesia (BI) today raised its reference and deposit facility interest rates for the second time this year as it tries to balance rising inflation in a cooling economy amid sharp depreciation in the rupiah.

Following a surprise 25-basis-point hike in June, the central bank increased its policy rate another 50bp to 6.5% at the conclusion of its July monetary policy meeting. The deposit facility rate – also known as the Fasbi rate – was hiked to 4.75% from 4.25%. Headline inflation in the co

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