Indonesia holds policy as rupiah stabilisation efforts continue
BI says impact of Middle East conflict continues to affect currency’s value
Indonesia’s central bank left its benchmark policy rate unchanged for the seventh consecutive month today (April 22) as it pledged to keep the rupiah stable after the currency hit record lows earlier this month.
Bank Indonesia (BI) said in a statement that the rate hold would ensure its monetary policy strategy helped to stabilise the rupiah, the value of which had been affected by worsening global economic conditions resulting from the war in the Middle East. BI said it was ready to implement
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