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Bank of Indonesia Leaves Interest Rates Unchanged in Hope of Stabilizing Rupiah and Controlling Inflation

Indonesia’s central bank left its bond-buying rate unchanged with a seven-day reverse repo deal; the key interest rate is at 3.5%, its lowest level ever.

Indonesia’s central bank said the announcement to leave the interest rate unchanged was to stabilize the rupiah and curb inflation. This also includes supporting economic growth in the face of increasing pressure from external factors.

In addition, the Bank of Indonesia said that the crisis in Ukraine has increased uncertainty in global financial markets. But Indonesia continues to expand strongly after the third COVID wave slowly subsided.

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