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Investing.com -- Indonesia’s central bank kept interest rates steady on Wednesday, maintaining a cautious stance due to external uncertainties and ongoing geopolitical tensions.
Bank Indonesia left its benchmark seven-day reverse repo rate unchanged at 5.50%, while also holding the overnight deposit facility rate at 4.75% and the lending facility rate at 6.25%.
The decision comes amid heightened geopolitical tensions in the Middle East and was made hours before the Federal Reserve’s own rate announcement, factors that likely influenced the central bank’s wait-and-see approach.
Bank Indonesia Governor Perry Warjiyo stated at a press conference that the rate decision aligns with the central bank’s goals of keeping inflation on target, maintaining rupiah stability, and supporting economic growth.
Warjiyo emphasized that Indonesia’s economic growth needs continued support. The central bank projects the country’s growth for this year to range between 4.6% and 5.4%.
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