Economics
Indonesia Unexpectedly Raises Key Rate
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Indonesia unexpectedly raised its benchmark interest rate to the highest level in more than four years, stepping up its campaign to shore up the exchange rate and damp inflation in Southeast Asia’s biggest economy.
Bank Indonesia raised the reference rate by 25 basis points to 7.5 percent, it said in Jakarta today, surprising the 24 of 25 economists surveyed by Bloomberg News who predicted no change.