Jakarta urges America to hurry up and raise rates

Jakarta

INDONESIA wants the US Federal Reserve to hurry up and raise interest rates because uncertainty over when it will tighten has created downward pressure on the rupiah, the country's chief economics minister said.

Sofyan Djalil, Coordinating Minister for Economics, told Reuters that he did not see the rupiah dropping when the US easing does come because the move has been built into market expectations, and in fact the currency is now undervalued.