Indonesia unexpectedly raises interest rate to support rupiah - FT中文网
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Indonesia unexpectedly raises interest rate to support rupiah

Central bank’s off-cycle move follows rout in currency and stock market
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{"text":[[{"start":7.65,"text":"Indonesia’s central bank has unexpectedly raised its main interest rate by 0.25 percentage points at an off-cycle meeting as it seeks to prop up a currency trading at record lows."}],[{"start":19.8,"text":"Bank Indonesia’s rate move on Tuesday, which brought the benchmark rate to 5.50 per cent, followed a 0.50 percentage-point rise just three weeks ago in what was its first rate rise in two years. "}],[{"start":32.8,"text":"In a statement, the bank said it was necessary “to take further steps to strengthen the stabilisation of [the] rupiah exchange rate by increasing yields and a number of other incentives to encourage the inflow of foreign investment”."}],[{"start":46.15,"text":"Foreign investors have increasingly been exiting Indonesian securities amid concerns over corporate governance, President Prabowo Subianto’s fiscal spending plans and risks of slowing growth in south-east Asia’s largest economy. "}],[{"start":59.849999999999994,"text":"The rupiah, which has weakened about 9 per cent per cent this year, sank to a record low of Rp18,188 against the dollar on Tuesday, before strengthening 0.9 per cent to Rp18,030.5 following the rate move."}],[{"start":84.6,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1780992265_2740.mp3"}

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