Central Bank of Indonesia raised the key rate for the 5th time since mid-May

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The Central Bank of Indonesia decided to raise the key rate by 25 basis points to 5.75% the day after the Federal Reserve had raised the rate. Since mid-May this is the fifth rate increase in Indonesia. During this period, the rate increased by 150 basis points. After the decision of the Bank of Indonesia, the national currency of the country fell slightly. On Thursday, the rupee was trading near the lows since the Asian financial crisis of 1997-1998. Head of the Central Bank Perry Warjiyo said that the Indonesian regulator would pursue a policy aimed at strengthening the national currency.

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