(Sept 23): Indonesia’s central bank kept its interest rate unchanged for a third straight meeting, choosing to rely on continued intervention and increased hedging incentives to support the rupiah in the face of higher oil prices and US yields. The new governor Destry Damayanti and her board held the BI-Rate at 5.75% on Wednesday as expected by 33 of 36 economists surveyed by Bloomberg . The rest had pencilled in a quarter-point hike. Bank Indonesia also further cut the premiums for conventional hedging swaps on portfolio investments by up to 25% and for domestic non-deliverable forwards by up to 30%. These perks are applicable for portfolio investments, foreign loans and foreign direct investments.
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