Bank Indonesia raises rates 50bp for third consecutive month
Warjiyo says “pre-emptive” move aims to bolster currency and dampen inflation expectations
Indonesia’s central bank delivered its third consecutive 50 basis point increase today (November 17), with its governor saying it aimed to support the country’s currency.
Bank Indonesia’s board of governors raised the seven-day reverse repo rate to 5.25%. It also raised the deposit and lending rates by the same amount, to 4.5% and 6% respectively.
Governor Perry Warjiyo said the board’s decision was a “pre-emptive” move to lower inflation expectations and bolster the rupiah. Inflation
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