Bank Indonesia raises policy rate in fifth hike since May

indonesia-rupiah

Indonesia’s central bank raised its policy rate for the fifth time since May on September 27, in an effort to stop the country’s currency falling.

The Indonesian rupiah has fallen to its lowest level since the global financial crisis in 2008, according to Reuters data.

The bank’s seven-person board of governors agreed to increase the policy rate by 25 basis points to 5.75% in a scheduled meeting. The last hike was on August 15.

The central bank also announced the introduction of an instrument

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