Indonesia c.bank to stabilise exchange rate to cushion price pressures

Market News

JAKARTA, Nov 3 - Bank Indonesia will strengthen measures to stabilise the rupiah's exchange rate to mitigate the effects of imported inflation, the country's finance minister said on Friday.

Last month, the central bank unexpectedly raised interest rates by 25 basis points to 6% with an aim to defend the rupiah and mitigate against imported inflation. Meanwhile, OJK said it has asked financial institutions to regularly monitor their investment portfolios in this volatile environment.

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