Indonesia Hikes Fuel Prices By Over 30% Prompting Central Bank To Review Policy

Posted on Nov 18, 2014

Indonesia's new president Joko Widodo raised fuel prices by more than 30 percent late Monday, following which the central bank called a special meeting to review policy on Tuesday, leading to speculation that it may hike interest rates to check a likely surge in inflation. The Indonesian stock market rallied on Tuesday and the rupiah strengthened on expectations of an interest rate hike.

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