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Bank Indonesia Raise Rates In Surprise Move as Rupiah Stumbles

·1 min

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Indonesia’s central bank raised its benchmark interest rate for the first time this year. The Bank Indonesia hiked the seven-day reverse repo rate by 25 basis points to 6.25%. The move comes as the bank aims to support the declining value of the rupiah.

Indonesia’s central bank raised its benchmark interest rate for the first time this year. The Bank Indonesia hiked the seven-day reverse repo rate by 25 basis points to 6.25%. The move comes as the bank aims to support the declining value of the rupiah.