Regulations
Bank Indonesia (BI) has kept the benchmark interest rate unchanged in its latest monetary policy meeting as it resorts to an alternative strategy to buttress the rupiah by incentivizing capital inflows.
Bank Indonesia Governor Perry Warjiyo (second right), Coordinating Minister for Economic Affairs Airlangga Hartarto (right), Finance Minister Purbaya Yudhi Sadewa (second left) and Financial Services Authority (OJK) chief Friderica Widyasarin deliver a press statement after a meeting with President Prabowo Subianto on May 5 at the Merdeka Palace in Jakarta. (Antara/Galih Pradipta)
Bank Indonesia (BI) has kept the benchmark interest rate unchanged while resorting to an alternative strategy to buttress the rupiah through foreign capital inflows.Following the central bank’s monthly two-day policy meeting, BI Governor Perry Warjiyo announced in a press conference on Wednesday that the BI Rate was kept at 5.75 percent, where it has been since the last rate decision.
The central bank "believes that the rupiah exchange rate will stabilize and tend to strengthen” moving forward, he said.
