JAKARTA : Indonesia's central bank kept its key interest rate unchanged on Thursday, pausing after six consecutive hikes and stressing that the current level should be sufficient to guide inflation back to target, while also revising up its economic growth outlook.Bank Indonesia (BI) left the benchmark 7-
JAKARTA : Indonesia's central bank kept its key interest rate unchanged on Thursday, pausing after six consecutive hikes and stressing that the current level should be sufficient to guide inflation back to target, while also revising up its economic growth outlook.
The stance highlights a growing policy divide between countries where inflation is slowly easing and those where prices remain elevated, with central banks in many major economies and some neighbouring Asian countries like the Philippines continuing with their tightening. "Core inflation is easing faster than we anticipated ... So we view, we believe that the BI policy rate is sufficient," BI Governor Perry Warjiyo told a news conference.Warjiyo said this was faster than BI had anticipated. BI aims to get inflation back to within its 2 per cent to 4 per cent target range in the second half of this year and core inflation to stay within the same band throughout the year.
With inflation easing, growth slowing and concerns about the rupiah fading, BI is"unlikely to tighten policy any further this year", Capital Economics analyst Shivaan Tandon said.
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