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Indonesia Annouces Surprise Rate Hike As Rupiah Slides

Indonesia Annouces Surprise Rate Hike As Rupiah Slides

Indonesia’s central bank unexpectedly raised its benchmark interest rate by 25 basis points on Tuesday, citing heightened global volatility and mounting pressure on the rupiah, as policymakers moved to shore up confidence in Southeast Asia’s largest economy. The move lifted the benchmark rate to 5.5%, more than a week ahead of the bank’s scheduled monthly...