Thursday, May 12, 2011

Bank Indonesia Holds Benchmark Interest Rate at 6.75%

Bank Indonesia maintained its benchmark interest rate unchanged at 6.75% but noted inflation risks.  Indonesia reported headline consumer price inflation of 6.16% in April, down slightly from 6.65% in March, and just outside the inflation target of 5% +/-1% in 2011 (which changes to 4.5% +/-1% in 2012).  The Indonesian economy expanded 6.5% on an annual basis in Q1 this year, slightly slower than 6.9% in Q4 2010.


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