FOREX TradingCharts.com

Financial News: Indonesia Hikes Key Rate By 50 Bps

Indonesia Hikes Key Rate By 50 Bps

06/29/2018 - 06:38:00 (RTTNews)

(RTTNews) - Indonesia's central bank lifted its key interest rate by 50 basis points, on Friday, to combat the weakness in currency.

Bank Indonesia raised the 7-day reverse repo rate to 5.25 percent from 4.75 percent. The new rate will take effect on June 29.

This was the third rate hike in six weeks. Economists had forecast a marginal quarter point rate hike at this meeting.

The bank also raised the deposit and lending facility rates by 50 basis points to 4.50 percent and 6.00 percent, respectively.

The bank said the latest decision is pre-emptive, front-loading and ahead of the curve to maintain the competitiveness of domestic financial market. The central bank also vowed to strengthen future policy mix responses.

Global uncertainty stems from European Central Bank's decision to reduce asset purchases, China's reserve requirement reduction, rising oil prices and deteriorating US-China trade relations, the bank noted.

The bank cautioned that the uncertainty could feed through to broad the US dollar appreciation and trigger a capital reversal from developing economies, thereby prompting broad currency depreciation.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


New Zealand House Prices Rise, Sales Fall In June (44 min(s), 10 sec(s) ago)
(RTTNews) - New Zealand's house prices increased in June from a year ago, while sales declined ...Full Story»

Singapore NODX Rises Less Than Expected In June (01 hr(s), 12 min(s), 10 sec(s) ago)
(RTTNews) - Singapore's non-oil domestic exports increased at a slower-than-expected pace in J ...Full Story»

New Zealand Consumer Prices Rise 0.4% In Q2 (10 min(s), 50 sec(s) ago)
(RTTNews) - Inflation in New Zealand gained 0.4 percent on quarter in the second quarter of 2018, ...Full Story»

BRAZIL: DI Rates Trade Slightly Lower On Domestic Economic Data, USD (49 min(s), 50 sec(s) ago)
(RTTNews) - The one-day interbank deposit futures rates (DI rates) in Brazil are trading lower Mon ...Full Story»

New Zealand Inflation Gains 0.4% In Q2 (40 min(s), 50 sec(s) ago)
(RTTNews) - Consumer prices in New Zealand were up 0.4 percent on quarter in the second quarter of ...Full Story»

RBA Minutes On Tap For Tuesday (25 min(s), 50 sec(s) ago)
(RTTNews) - The Reserve Bank of Australia will on Tuesday release the minutes from its monetary po ...Full Story»

BRAZIL: IMF Slashes Estimate For GDP Growth To 1.8% In 2018, From +2.3% (10 min(s), 50 sec(s) ago)
(RTTNews) - Brazil's gross domestic product (GDP) is expected to grow 1.8% this year, accordin ...Full Story»

BRAZIL: Economic Activity Falls 3.34% On Month In May (50 sec(s) ago)
(RTTNews) - The Brazilian Central Bank's Economic Activity Index (IBC-Br) fell 3.34% in May ov ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

New Zealand House Prices Rise, Sales Fall In June

07/17/2018 - 00:50 AM (RTTNews)
(RTTNews) - New Zealand's house prices increased in June from a year ago, while sales declined ...Full Story>>

Singapore NODX Rises Less Than Expected In June

07/17/2018 - 00:22 AM (RTTNews)
(RTTNews) - Singapore's non-oil domestic exports increased at a slower-than-expected pace in J ...Full Story>>

New Zealand Consumer Prices Rise 0.4% In Q2

07/16/2018 - 19:45 PM (RTTNews)
(RTTNews) - Inflation in New Zealand gained 0.4 percent on quarter in the second quarter of 2018, ...Full Story>>

BRAZIL: DI Rates Trade Slightly Lower On Domestic Economic Data, USD

07/16/2018 - 19:24 PM (RTTNews)
(RTTNews) - The one-day interbank deposit futures rates (DI rates) in Brazil are trading lower Mon ...Full Story>>

New Zealand Inflation Gains 0.4% In Q2

07/16/2018 - 19:15 PM (RTTNews)
(RTTNews) - Consumer prices in New Zealand were up 0.4 percent on quarter in the second quarter of ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.