Indonesia keeps benchmark rate unchanged

Strong export growth and stable rupiah gives Indonesia room to hold rates, analysts say

Bank Indonesia
Bank Indonesia
Christopher Jeffery

Indonesia’s central bank kept its benchmark interest rate unchanged on July 21 saying inflation remains under control, despite most of its regional peers raising rates.

Bank Indonesia left the seven-day reverse repurchase rate at 3.5%, a level maintained since February 2021. It also kept the overnight deposit and lending facility rates at 2.75% and 4.25% respectively.

“The decision is consistent with projections of manageable core inflation despite the risks posed by global economic moderation

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