Indonesia Central Bank Raises Rates In Response To Fuel Price Hike

Posted on Nov 18, 2014

Indonesia's central bank on Tuesday hiked interest rates in response to the government's decision to raise fuel prices. Following a special meeting, the benchmark BI rate was raised by 25 basis points to 7.75 percent, the Bank Indonesia said in a statement. The Indonesian stock market rallied on Tuesday and the rupiah strengthened on expectations of an interest rate hike.

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