Indonesia Raises Rates for First Time since 2018
Bank Indonesia raised the policy rate to 3.75 from 3.5 percent.
JAKARTA, KOMPAS.com \- Indonesia's central bank hiked its key interest rate Tuesday, Aug. 23, for the first time in nearly four years to combat rising inflation stoked by the Covid-19 pandemic and war in Ukraine. Bank Indonesia raised the policy rate to 3.75 from 3.5 percent, a move that went against the majority of analysts' predictions. Its two other main rates were also raised by 25 basis points. Rates were hiked for the first time since 2018 to defend against accelerating inflation, Bank Indonesia governor Perry Warjiyo said, with Russia's invasion driving up global energy and food prices ...