Indonesia keeps interest rates unchanged
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Indonesia’s central bank kept its interest rates unchanged at 4.75% for the eighth month in a row due to its efforts to keep macroeconomic and financial system stable and to support the country’s economic recovery. The decision to keep rates steady was in line with expectations.
The Central Bank said US Federal Reserve’s recent rate hike, the results of the UK election, a possible decrease in commodity prices, particularly in oil pose risks to the economic recovery. It also highlighted the domestic risks such as the effect of adjusting prices on inflation as well as the ongoing reinforcement in the corporate and banking sectors.
The bank maintained its growth forecast of 5-5.4% for 2017 on the back of the increasing exports and investments as well as strong household consumption.
The Central Bank said US Federal Reserve’s recent rate hike, the results of the UK election, a possible decrease in commodity prices, particularly in oil pose risks to the economic recovery. It also highlighted the domestic risks such as the effect of adjusting prices on inflation as well as the ongoing reinforcement in the corporate and banking sectors.
The bank maintained its growth forecast of 5-5.4% for 2017 on the back of the increasing exports and investments as well as strong household consumption.
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