Indonesia Holds Key Rate to Back Rupiah, Will Keep Intervening
Indonesia's central bank maintained its key interest rate, extending a pause in its easing cycle to stabilize the currency in the face of a worsening global trade war.
Bank Indonesia left the benchmark BI-Rate unchanged at 5.75% on Wednesday, as predicted by 27 of 29 economists surveyed by Bloomberg. The remainder expected a quarter-point cut. It's the third month in a row that the central bank has held rates steady after a surprise reduction in January.
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