Bank Indonesia resumes tightening to stabilise currency

Bank Indonesia
Bank Indonesia
Christopher Jeffery

Bank Indonesia surprised analysts today by raising its policy rate by 25 basis points, after the rupiah fell to its lowest level since 2020.

The central bank’s six-member board raised the 7-day repo rate to 6%, it announced in a statement. The move was BI’s second rate hike this year and came after it held rates unchanged for eighth straight meeting. The rate is at its highest level since June 2019.

All 36 economists polled by Reuters had expected the central bank to leave its policy rate

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.