“The focus of monetary policy is directed at strengthening the stability of the rupiah exchange rate from the impact of heightened global economic uncertainty due to US policy direction and escalation of geopolitical tensions in various regions,” Governor Perry Warjiyo told reporters.
Indonesia’s central bank kept its key interest rate unchanged for a third straight month to support the rupiah that fell past the key support level of 16,000 to the US dollar.
Bank Indonesia kept the benchmark BI-Rate steady at 6% on Wednesday, in line with the prediction of 21 of 34 economists surveyed by Bloomberg. The rest expected a cut of 25 basis points.
