Economics
Indonesia Keeps Rates Steady as Inflation Pressures Increase
- Prices rose at the fastest pace in more than a year in April
- All but one of 25 economists surveyed forecast bank would hold
Vendors pack jackfruits at the Pasar Induk Kramat Jati market in Jakarta, Indonesia.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Indonesia’s central bank left its benchmark interest rate unchanged for a seventh month as inflation heads closer to the top of the target band.
Governor Agus Martowardojo and his held the seven-day reverse repurchase rate at 4.75 percent on Thursday, as forecast by all but one of the 25 economists surveyed by Bloomberg. The bank went on a cutting spree last year as it lowered rates six times, but has been on hold since the last move in October.