Bank Indonesia unexpectedly raises rates to support rupiah
Rate hike comes on top of central bank’s continued FX intervention amid a strong dollar
Bank Indonesia (BI) raised its benchmark interest rate today (April 24) for the first time in six months to support the rupiah, a move that surprised most market analysts.
The central bank’s board of governors decided to raise the BI rate by 25 basis points to 6.25%, after keeping the policy rate unchanged for five consecutive meetings since October 2023. It also raised the deposit rate and the lending facility rate each by 25bp, to 5.5% and 7%, respectively.
Only six of 35 economists polled by Re
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 print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Most read
- Profit inflation and monetary policy: weighing the evidence
- What is forecasting for? Bernanke and the future of BoE projections
- Cecilia Skingsley on monetary policy tech and a unified ledger