Bank Indonesia pauses on rate hikes

Bank Indonesia
Christopher Jeffery

The Bank Indonesia board decided to leave its policy rate unchanged on October 23. The decision was only the second pause since May, with rates rising a total of 150 basis points over the period.

The board held the seven-day reverse repurchase rate at 5.75% as more favourable macroeconomic data seemed to have slowed the rupiah’s slide in recent weeks.

After a sharp depreciation of 1.8% against the dollar in the first four days of October, the currency has avoided further drops in recent weeks.

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