Indonesia’s Central Bank Hikes Benchmark Interest Rate by 50 bps to 4.75%

Indonesia’s central bank raised its policy rates by 50 basis points on Thursday, as expected, as it sought to curb rising inflation, while trying to slow capital outflows that have weighed on the rupiah.

Bank Indonesia (BI) hiked the benchmark 7-day reverse repurchase rate to 4.75 per cent, in line with the expectations of 17 out of the 30 economists polled by Reuters. The remaining 13 economists had expected a smaller 25 bp hike. – Reuters

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