Indonesia Holds Rate to Shield Rupiah From Trade, Mideast Risks

Indonesia’s central bank kept interest rates unchanged, pausing its cuts to support the rupiah in the face of the global trade war and growing conflicts in the Middle East.

Bank Indonesia held its benchmark BI-Rate at 5.5% on Wednesday, as expected by 26 of 35 economists surveyed by Bloomberg. The others predicted policymakers would continue to ease after lowering the policy rate in May.