JAKARTA, May 20 (Reuters) – Indonesia’s central bank raised its policy interest rates for the first time in two years at a policy review on Wednesday.
Bank Indonesia (BI) hiked its benchmark 7-day reverse repurchase rate by 50 basis points to 5.25%.
Sixteen of 29 economists in a Reuters survey had expected a 25-basis-point increase, while the rest had expected no change.
BI also raised its overnight deposit facility and lending facility rates by the same amount, to 4.25% and 6.00%, respectively.
(Reporting by Gayatri Suroyo, Ananda Teresia; Editing by John Mair)
Comments