Bank Indonesia keeps rates steady as expected

[JAKARTA] Indonesia’s central bank held its key interest rate steady on Wednesday (Aug 21), opting not to lower it despite the rupiah’s recent gains.

Bank Indonesia maintained its rate at 6.25 per cent, aligning with market expectations as surveyed by Bloomberg. It also left its deposit and lending benchmarks unchanged at 5.5 per cent and 7 per cent, respectively.

Governor Perry Warjiyo stated that the decision was made to sustain the rupiah’s recent strengthening and maintain its stability.