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Indonesia central bank, finance minister agree to boost asset yields to aid rupiah
Indonesia central bank, finance minister agree to boost asset yields to aid rupiah JAKARTA, June 6 : Indonesia's central bank chief and finance minister on Saturday agreed to increase yields on Indonesian assets to attract portfolio inflows and support the rupiah, after the currency hit record lows in the past few weeks. Bank Indonesia and the finance ministry "will increase the attractiveness of yields" on Indonesian assets "so that portfolio inflows return" to the country, Governor Perry...
Indonesia's central bank to prepare regulations reflecting wider mandate
Indonesia's central bank to prepare regulations reflecting wider mandate JAKARTA, June 5 : Indonesia's central bank will prepare technical regulations that reflect its wider mandate to support economic growth following the passage of a sweeping new financial system law, its spokesperson said on Friday. Bank Indonesia supported the law and had provided its feedback for the legislation during the deliberation process, spokesperson Ramdan Denny Prakoso said in a statement. Parliament on...
Indonesia passes bill expanding central bank role to spur growth
Indonesia passes sweeping bill expanding central bank role to spur growth JAKARTA, June 4 : Indonesia's parliament on Thursday passed sweeping legislation that doubles down on Bank Indonesia's role to support growth, while empowering lawmakers to make binding recommendations for independent financial regulators and the central bank. The bill has added to investor concerns about the possibility of political interference in the central bank to ensure compliance with President Prabowo...
Indonesia passes sweeping bill expanding central bank role to spur growth
Indonesia passes sweeping bill expanding central bank role to spur growth JAKARTA, June 4 : Indonesia's parliament on Thursday passed sweeping legislation that places further emphasis on Bank Indonesia supporting economic growth, while empowering lawmakers to evaluate independent financial regulators and the central bank. Parliament passed the bill by acclamation, with support from all parties, according to the deputy speaker, Sufmi Dasco Ahmad, who led Thursday's plenary session. The bill,...
Like Indonesia, India's central bank may hike rates to defend its currency
India's central bank may defy expectations that it will leave its benchmark interest rate unchanged during its monetary policy decision meeting on Friday. The majority of economists polled by CNBC expect the Reserve Bank of India to keep rates unchanged at 5.25% while signaling a rate hike may only occur towards the end of the year. A minority expect policymakers to act at this week's meeting in a bid to anchor the rupee, which has depreciated to record lows against the dollar.
Indonesian central bank says governor briefs foreign investors following surprise rate hike
Indonesian central bank says governor briefs foreign investors following surprise rate hike JAKARTA, June 10 : Indonesia's central bank has briefed investors from Europe, the United States and Asia following its surprise rate hike, senior deputy governor Destry Damayanti told Reuters on Wednesday. On Tuesday, Bank Indonesia raised interest rates by 25 basis points in a rare off-cycle move to 5.50 per cent to try to stabilise the rupiah after the currency hit a series of record lows. Destry...
Indonesia May Hike Rate Again to Shield Currency, Analysts Say
The Bank Indonesia headquarters in Jakarta.
Danantara to Start US Bond Roadshow as Indonesia Rout Deepens
Indonesia’s finance and central bank officials said over the weekend they will boost efforts to stabilize the currency and attract inflows.
Indonesia raises rates in surprise move to prop up sinking rupiah
Indonesia raises rates in surprise move to prop up sinking rupiah The rupiah has been under pressure due to a wide range of investor worries, including President Prabowo Subianto's big spending plans and a ballooning fuel subsidy budget following the Iran war. JAKARTA: Indonesia's central bank raised interest rates by 25 basis points on Tuesday (Jun 9) in an unexpected off-cycle rate hike, taking the benchmark rate to 5.50 per cent as it moves to stabilise the rupiah, which has hit a series...
Indonesia’s rupiah falls to record low against US dollar
Indonesia’s rupiah falls to record low against US dollar Currency plunge comes as energy shock from the Iran war casts a cloud over Southeast Asian economies. Indonesia’s rupiah has hit its weakest level ever against the US dollar, breaching the psychological 18,000 threshold amid surging energy costs. The currency hit 18,028 against the greenback on Thursday, despite recent central bank efforts to provide support.