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Indonesia Raises Rates in Surprise Move to Prop up Sinking Rupiah
Economists had expected no change, but the central bank said the move would help attract foreign inflows and keep inflation within target.
Summary by Channel News Asia
8 Articles
8 Articles
Indonesia raises rates in surprise move to support sinking rupiah
·New York, United States
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Indonesia May Hike Rate Again to Shield Currency, Analysts Say
Indonesia may raise interest rate again to shield the rupiah and curb market volatility, according to analysts, after the central bank’s surprise tightening on Tuesday helped the currency rebound from record lows and boosted stocks.
·New York, United States
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Bank Indonesia (BI) raised the BI Rate to 5.50% to stabilize the rupiah exchange rate and control inflation. This measure also attracted foreign investment to Indonesia.
Bank Indonesia (BI) has taken aggressive steps to strengthen the rupiah exchange rate, which continues to be hit by external pressure, by raising the benchmark interest rate or BI-Rate by 25 bps to 5.50%.
Coverage Details
Total News Sources8
Leaning Left2Leaning Right0Center2Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
Factuality
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