In a bold move to stabilize its currency, Bank Indonesia announced a critical adjustment to its monetary policy on Wednesday.
The central bank lifted its benchmark seven-day reverse repo rate by 25 basis points, setting it at 6.25%.
This initiative marks the first rate hike since October of the previous year, aimed directly at supporting the weakening rupiah and managing rising inflation pressures.
Governor Perry Warjiyo emphasized the need to strengthen the rupiah, which had dropped to around 16,000 against the dollar.
Under his stewardship, the bank has pledged to keep inflation between 1.5% and 3. . .
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