The Central Bank of Indonesia raised its key rate by 25 bp. up to 5.75%

JAKARTA, Jan 19 (Reuters) – Indonesia’s central bank raised its key rate by 25 basis points on Thursday, the sixth increase in borrowing costs since August, driven by the need to fight inflation, which the regulator wants to bring back to its target this year.

The Central Bank of Indonesia raised its seven-day reverse repo rate to 5.75%, as expected by most economists in a Reuters poll.

The Indonesian regulator similarly raised rates on overnight deposits and loans: up to 5.00% and 6.50%, respectively.

Original message in English available by code (Gayatri Suroyo, Francisca Nagoy and Stefanno Suleiman)

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