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Bank Indonesia Raises Rates by 50bps to 4.75%, As Expected

  • Bank Indonesia raise the benchmark rate by 50bps to 4.75%, alongside expectations. The accompanying bank statement says the rate hike is inline with their front-loading regime for policy, and is meant to bring down inflation expectations.
  • On the IDR, the bank write that their actions are inline with efforts to stabilize the currency, however the transmission mechanism remains somewhat impaired due to domestic liquidity conditions.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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