18 May '17, 10am

Indonesia keeps rates steady as inflation pressures increase - The Straits Times

JAKARTA (REUTERS, BLOOMBERG) - Indonesia's central bank, wary of risks including a "big chance" US interest rates will rise in June, left its benchmark interest rate unchanged for a seventh month as inflation heads closer to the top of the target band. Bank Indonesia (BI) governor Agus Martowardojo and his board held the 7-day reverse repurchase rate steady at 4.75 per cent on Thursday. The central bank also kept the deposit facility and lending facility rates, the floor and ceiling of the overnight interbank money market, unchanged at 4.00 per cent and 5.50 per cent, respectively. The bank went on a cutting spree last year as it lowered rates six times, but has been on hold since the last move in October. "With the economy struggling to gain momentum, but inflationary pressures on the rise, Bank Indonesia's decision to keep interest rates on hold at 4.75 per cent today ca...

Full article: http://www.straitstimes.com/business/indonesia-keeps-rate...

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