(Oct 21): Bank Indonesia kept its benchmark interest rate unchanged, while cutting reserve requirements and raising deposit rates, a mix of policies designed to pursue competing objectives following the market volatility triggered by MSCI Inc’s downgrade threat. Bank Indonesia kept the BI-Rate unchanged at 5.75% on Wednesday, as seen by 19 of 38 economists surveyed by Bloomberg . The other half expected a rate increase. The hold “is consistent with the strategy to stabilise the rupiah amid persistent external pressures”, to promote economic growth and to achieve an inflation target of 1.5%-3.5%, Governor Destry Damayanti said in announcing the decision. She also described a “policy mix” with two other key components.
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