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

INDONESIA CENTRAL BANK
  • 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.

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