Bank Indonesia's Governor Perry Warjiyo states no interest rate hikes needed due to rupiah currency's weakest state since 2020, opting for market intervention and rupiah certificates instead.
Bank Indonesia's Governor Perry Warjiyo said there's no need for interest rate hikes, as the rupiah currency is at its weakest since 2020, due to global uncertainties, domestic US dollar demand, and fiscal risks. Instead, the bank prefers to use market intervention and rupiah-denominated certificates to stabilize the rupiah, as inflation is low and raising interest rates could negatively impact the economy.
June 24, 2024
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