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Helpless Rupiah Despite the Rate Hike

Monday, October 23, 2023

Bank Indonesia’s rate hike fails to stop the rupiah from stumbling. Political intervention in judiciary system makes it even worse.

arsip tempo : 172812462168.

Helpless Rupiah Despite the Rate Hike. tempo : 172812462168.

BANK Indonesia (BI) surprised markets by increasing its reference interest rate by 0.25 percent on Thursday, October 19. The BI 7-Day Reverse Repo Rate (BI7 DRRR) now stands at 6 percent, its highest level since 2019.

Not many analysts predicted that hike. Moreover, previously, BI had repeatedly conveyed its commitment to hold its interest rate steady for a while. This loose monetary policy is important to help the economy keep growing. On

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