Indonesia’s central bank raises interest rate
Indonesia’s central bank on November 12 increased its
benchmark interest rate by 0.25 percentage points to 7.5 percent, the
highest since 2009, in a bid to improve the current account deficit.
Indonesia’s central bank on November 12 increased its
benchmark interest rate by 0.25 percentage points to 7.5 percent, the
highest since 2009, in a bid to improve the current account deficit.
Bank Indonesia (BI) Governor Agus Martowardojo said the move also aims to aid the domestic currency and curb trade deficit, which climbed to 657 million USD in September.
The bank projected that Indonesia’s current account deficit would shrink to 8.4 billion USD in the third quarter from 9.85 billion USD in the second quarter.
However, the national statistics agency put the figure at just 6.3 billion USD.-VNA
Bank Indonesia (BI) Governor Agus Martowardojo said the move also aims to aid the domestic currency and curb trade deficit, which climbed to 657 million USD in September.
The bank projected that Indonesia’s current account deficit would shrink to 8.4 billion USD in the third quarter from 9.85 billion USD in the second quarter.
However, the national statistics agency put the figure at just 6.3 billion USD.-VNA
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