Bank Indonesia holds rates, signals focus on rupiah stability amid capital outflows
The rupiah has fallen 3.8% this year and is Asia’s worst-performing currency
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[JAKARTA] Bank Indonesia (BI) held its benchmark rate on Wednesday (Nov 19) for the second consecutive meeting since October, signalling a renewed focus on stabilising the rupiah amid persistent capital outflows.
The central bank kept the policy rate at 4.75 per cent, in line with Bloomberg’s surveyed market expectations; it kept its other key rates steady –5.50 per cent for the lending facility, and 3.75 per cent for the deposit facility.
Governor Perry Warjiyo said the move underscores BI’s short-term focus on supporting currency stability and attracting foreign portfolio inflows.
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