Indonesia keeps rates on hold, maintains 2015 inflation target
Jakarta
INDONESIA'S central bank kept policy rates on hold at its last policy meeting of the year on Thursday, as expected, saying levels were consistent with efforts to contain inflation after a fuel price hike.
Bank Indonesia (BI) held its benchmark rate steady at 7.75 per cent, a negative real interest rate when compared to the annual inflation estimate for December of around 7.7-8.1 per cent. The central bank quickly raised its key rate by 25 basis points on Nov 19 to contain inflation expectations after the government announced a more than 30 per cent hike in fuel prices the day before. It was its first rate move since November 2013.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
EU, ISSB agree on minimising overlaps in company climate disclosures
US law firm Mayer Brown to split from Hong Kong partnership
US labour costs rise by most in a year as productivity cools
US trade deficit narrows slightly in March
Canada posts surprise trade deficit as gold exports fell in March
OECD upgrades global growth outlook as US outperforms