Indonesia's central bank unveils surprise rate hike to stem rupiah rout
Indonesia's central bank announced a surprise 25-basis-point interest rate hike on June 9, citing "high global volatility" and concerns over currency stability.
More than a week before its next monthly monetary policy meeting, officials lifted borrowing costs to 5.5 percent, following an unexpected 50-point increase last month aimed at stabilising the weakening rupiah and battling inflation.
Jakarta's main stock index rose nearly five percent in Tuesday morning trade.
Stung by surging energy costs, the rupiah has fallen to more than 18,000 to the dollar, a record low.
