Bank Indonesia holds rates as rupiah weakens

Bank says inflationary policies under Trump would boost dollar and lead to fewer Fed rate cuts

indonesia-rupiah-2016

Bank Indonesia (BI) kept its benchmark interest rate unchanged for the second month in a row today (November 20) as it highlighted the need to keep the rupiah stable amid rising geopolitical uncertainty.

The governing board decided to keep the benchmark rate at 6%, the deposit rate at 5.25% and the lending rate at 6.75%.

It had unexpectedly cut its three key rates by 25 basis points in September, the first time it had loosened policy since February 2021.

In a statement, the bank said today’s

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