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Indonesia raises its reverse repo rate to 5.25% from 4.75%


INDONESIA’S central bank stepped up its policy action with a bigger-than-forecast interest rate hike – the third increase in six weeks – to halt a deepening slide in the currency.

The seven-day reverse repurchase rate was raised by 50 basis points to 5.25% yesterday, surprising all of the 31 economists surveyed by Bloomberg, most of whom had predicted a 25 basis-points hike.

Indonesia , rates

   

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