Indonesian central bank says keeping rates at 4.75% will stabilise rupiah and encourage growth
Bank Indonesia (BI) has held rates in a bid to limit the depreciation of the rupiah, the value of which plummeted after the country’s president nominated his nephew as the central bank’s deputy governor.
BI spokesperson Ramdan Denny Prakoso said in a statement today (January 21) that the benchmark lending rate would remain at 4.75%, where it has been since September. Ramdan said BI would strengthen the exchange rate through interventions in the country’s domestic and offshore non-deliverable
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