ZCZC
BCN-27
INDONESIA-BANK-RATE-SETTING
Indonesian central bank to hold early rate-setting meeting Wednesday
JAKARTA, May 28, 2018 (BSS/Xinhua) – The central bank of Indonesia will
hold an early policy meeting Wednesday in a bid to take more adjustments in
its benchmark interest rate policy as the U.S. Fed. Reserve’s hawkish tone
has cast worry on capital outflows.
The interest rate-setting meeting, which is about one month ahead of its
regular monthly meeting, was put on scheduled at the lender website on
Monday.
On May 17, the central bank rose its seven-day reverse repo rate by 25
basis points to 4.5 percent, the first hike after applying a neutral stance
since September 2017.
The quick move suggests the lender’s intention to drive up rupiah value
which has dipped 6 percent against the greenback and 10-year benchmark
sovereign bond coupon have climbed over 100 basis points since the final week
of January.
BSS/XINHUA/HR/1410