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Indonesia holds interest rate unchanged for 2nd month in Dec

by ChemOrbis Editorial Team - content@chemorbis.com
  • 15/01/2015 (15:03)
Bank Indonesia, the central bank of Indonesia, kept its reference rate unchanged for a second consecutive month on January 15, according to media reports. The bank held its reference rate steady at 7.75% in line with economists’ expectations. The bank also maintained its overnight deposit rate at 5.75% percent.

The country’s inflation, meanwhile, rose to 8.4% year over year in December to post the highest level seen in five years. The increase in inflation was attributed to increased costs of transport following the government’s decision to reduce its fuel subsidies. The bank stated that the increase in inflation is likely to prove temporary.
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