JAKARTA: Indonesia's central bank delivered a surprise rate hike on Wednesday, stepping up efforts to support the rupiah currency against selling linked to global risk aversion and a delay in the expected timing of any U.S. policy easing.
Bank Indonesia (BI) raised the 7-day reverse repurchase rate by 25 basis points to 6.25%, its highest since the bank made the instrument its main policy rate in 2016.
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