Bank Indonesia raises the benchmark rate

INDONESIA - In Brief 31 May 2018 by Cyrillus Harinowo
At a special policy meeting on May 30, Bank Indonesia announced another increase in the benchmark rate by 25 basis points, to 4.75 percent. The rate increase, as we suggested in our most recent report, was able to reverse expectations, so that the exchange rate of the rupiah turned to Rp. 13 thousand territory. The financial markets remain confident that Bank Indonesia will stay vigilant regarding any developments that negatively affect the stability of the rupiah.

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