12 Apr '11, 9am

Indonesia keeps key interest rate steady: JAKARTA - Indonesia on Tuesday held interest rates at 6.75 percent aft...

Indonesia keeps key interest rate steady: JAKARTA - Indonesia on Tuesday held interest rates at 6.75 percent aft...

JAKARTA - Indonesia on Tuesday held interest rates at 6.75 percent after prices eased slightly last month, but the central bank warned the risk of inflationary pressures remained high. Inflation eased to 6.65 percent on a yearly basis in March while prices fell month-on-month as food costs slightly softened, according to the country's statistics agency. But bank governor Darmin Nasution said: "The decision (to keep interest rate unchanged) doesn't change Bank Indonesia's tight bias monetary policy. "Bank Indonesia still sees that the risk of inflationary pressures remains high in the future." The bank raised its benchmark overnight rate by 25 basis points in February, its first hike since August 2009 as it moved to keep inflation under control because of rising food and commodity prices. However, authorities must tread carefully amid ongoing concerns that huge inflows of f...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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