Bank Indonesia holds policy rate despite rupiah weakness

Governor Perry Warjiyo vows further intervention to support the currency

Perry Warjiyo
Perry Warjiyo

Bank Indonesia (BI) kept its policy rate unchanged for the second straight meeting, while pledging further intervention to stabilise the rupiah.

The central bank kept its benchmark seven-day reverse repo rate at 6.25%. BI also held its overnight deposit facility rate at 5.5% and its lending facility rate at 7%.

The decision is consistent with the bank’s “pre-emptive and forward-looking” stance to ensure inflation remains within its 1.5–3.5% target band, governor Perry Warjiyo told a press

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