LOCATION : INDEX>> INDONESIAN STUDIES >> INDONESIAN ECONOMY >>

BI Raises Interest Rates to 6.25 Percent Over Geopolitical Concerns

[AUTHOR]： [[TIME]：2024-07-31 [SOURCE]： [HITS]：

Governor of Bank Indonesia, Perry Warjiyo, during a video press conference in Jakarta, Thursday, April 9, 2020. (Photo courtesy of Bank Indonesia)

Jakarta. Bank Indonesia (BI) increased the benchmark BI-Rate by 25 basis points to 6.25 percent, citing escalating geopolitical tensions in the Middle East and high interest rates in the US, causing the rupiah to weaken.

During its Board of Governors Meeting on April 23-24, the central bank also raised the Deposit Facility rate to 5.5 percent and the Lending Facility rate to 7 percent.