Bank Indonesia holds benchmark rate at 5.75%, pauses after May-June hikes
Bank Indonesia held its benchmark seven-day reverse repo rate at 5.75% on September 23, pausing after consecutive rate hikes in May and June. The decision matched market expectations, with nine of ten economists surveyed by The Wall Street Journal forecasting no change. The central bank also kept the overnight deposit facility rate at 4.75% and the lending facility rate at 6.50%. Governor Perry Warjiyo stated the move aims to stabilize the rupiah amid external pressures, keep inflation within target, and support economic growth.
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Indonesia Central Bank Holds Rate Steady, Monitors Rupiah Pressure
Indonesia's central bank (Bank Indonesia) held its benchmark seven-day reverse repo rate at 5.75% on Wednesday, September 23, pausing after consecutive rate hikes in May and June. The decision was widely expected, with nine out of ten economists surveyed by The Wall Street Journal forecasting no change, while one had predicted a 25-basis-point increase. The bank also kept the overnight deposit facility rate at 4.75% and the lending facility rate at 6.50%. The move comes as the central bank assesses the effectiveness of its measures to support the rupiah amid renewed currency risks. Governor Perry Warjiyo stated in a press conference that the decision aligns with the bank's strategy to stabilize the rupiah while external pressures remain high, keep inflation within the target range, and support sustained economic growth.
Read sourceIndonesia Central Bank Holds Rate Steady, Monitors Rupiah Amid Rising Currency Risk
Indonesia's central bank, Bank Indonesia, held its benchmark seven-day reverse repurchase rate at 5.75% on Wednesday, September 23, in line with expectations, as it assesses the effectiveness of measures to support the rupiah amid renewed currency risks. The decision follows consecutive rate hikes in May and June. A Wall Street Journal survey of 10 economists found nine predicted the hold, while one expected a 25-basis-point hike. The central bank also kept the overnight deposit facility rate at 4.75% and the lending facility rate at 6.50%. In a press conference, the bank's governor stated that the move aligns with the central bank's strategy to stabilize the rupiah while external pressures remain high, keep inflation within the target range, and support sustained economic growth.
Read sourceIndonesia Central Bank Holds Key Rate Steady, Monitors Rupiah Pressure
Indonesia's central bank, Bank Indonesia, kept its benchmark seven-day reverse repo rate unchanged at 5.75% on Wednesday, September 23, as it evaluates the effectiveness of measures to support the rupiah amid renewed currency risks. The decision was in line with expectations; a Wall Street Journal survey of 10 economists found nine predicted no change and one forecast a 25-basis-point hike. The central bank also held the overnight deposit facility rate at 4.75% and the lending facility rate at 6.50%. In a press conference, the governor stated the move aligns with the bank's strategy to stabilize the rupiah while external pressures remain high, keep inflation within the target range, and support sustained economic growth. The bank had previously raised rates in May and June.
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Indonesia's Central Bank Holds Key Interest Rate at 5.75%, Matching Forecasts
Indonesia's central bank, Bank Indonesia, announced on September 23 that it has decided to maintain its benchmark interest rate at 5.75%. The decision was widely anticipated by financial markets and aligns with economist forecasts. The rate hold reflects the central bank's current assessment of economic conditions and inflation outlook, though no further details or forward guidance were provided in the brief statement. The move comes amid ongoing global monetary policy adjustments and domestic economic considerations in Southeast Asia's largest economy.
Read sourceIndonesia Central Bank Holds Key Interest Rate at 5.75%, Matching Expectations
Bank Indonesia, the country's central bank, has decided to maintain its benchmark interest rate at 5.75%. This decision aligns with market expectations, as analysts had widely anticipated no change in monetary policy at this meeting. The hold reflects the central bank's assessment of current economic conditions, likely balancing inflation concerns with the need to support economic growth. No further details on the rationale or forward guidance were provided in the brief announcement. The decision comes amid global monetary policy uncertainty and domestic economic pressures, with the central bank continuing to monitor inflation and currency stability.