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Indonesia c.bank keeps benchmark rate at 7.50 pct, as expected
January 9, 2014 / 9:26 AM / 4 years ago

Indonesia c.bank keeps benchmark rate at 7.50 pct, as expected

JAKARTA, Jan 9 (Reuters) - Indonesia’s central bank kept its benchmark policy rate unchanged at 7.50 percent on Thursday, as expected, as growth slows and price pressures moderate.

The central bank also maintained the deposit facility rate, or FASBI, and lending facility rate at 5.75 percent and 7.50 percent, respectively.

“The policy is consistent with inflation towards 3.5 to 5.5 percent in 2014,” said Bank Indonesia Governor Agus Martowardojo.

Most analysts in a Reuters poll had expected Bank Indonesia to keep its key reference rate on hold, on slowing growth and as inflation stays well below official targets.

The central bank has lifted rates a total of 175 basis points since June to support the rupiah, which fell more than 20 percent in 2013 as portfolio funds dumped Indonesian assets.

The rupiah traded at 12,185 to the dollar, after the announcement, while Indonesia’s main index was up 0.01 percent.

Southeast Asia’s largest economy has kept monetary policy tight to manage inflationary pressures and a wide current-account deficit.

Annual inflation was 8.38 percent last year compared with 4.29 percent in 2012, mainly due to fuel subsidy cuts.

KEY DATA:

Announcement date Rate (percent)

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09-Jan-2014 7.50

12-Dec-2013 7.50

12-Nov-2013 7.50

08-Oct-2013 7.25

12-Sep-2013 7.25

29-Aug-2013 7.00

15-Aug-2013 6.50

11-Jul-2013 6.50

13-Jun-2013 6.00

14-May-2013 5.75

11-Apr-2013 5.75

07-Mar-2013 5.75

12-Feb-2013 5.75

10-Jan-2013 5.75 For more historical data, please see

Reporting by Rieka Rahadiana and Nilufar Rizki; Editing by Jacqueline Wong

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