Hong Kong, Indonesia and Philippines raise rates

Bank Indonesia
Bank Indonesia
Photo: Christopher Jeffery

The central banks of Hong Kong, the Philippines and Indonesia raised their benchmark interest rates today (September 22).

The moves came hours after the US Federal Reserve delivered an aggressive 75 basis-point hike, raising its key rate from 3% to 3.25%. The Fed says this should reach 4.4% by the year’s end and rise further in 2023.

Indonesian rise above expectations

Indonesia’s central bank delivered a bigger interest rate hike than expected to curb inflation.

Its announcement came after

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