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Asian Economic News

Bank Indonesia Lifts Key Rate Unexpectedly

By Renju Jaya   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Indonesia's central bank unexpectedly raised its key interest rate by a quarter-point on Thursday in order to curb the fall in the domestic currency rupiah after retaining the policy rate unchanged for eight consecutive sessions.

The Board of Governors of Bank Indonesia, led by Governor Perry Warjiyo, decided to lift the seven-day reverse repo rate by 25 basis points to 6.00 percent.

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