JAKARTA (RambuEnergy) – Bank Indonesia, the country’s central bank has raised the key rate, 7-Days Reverse Repo Rate by 25 basis points to 5.75% from 5.50% previously.
The deposit facility rate was also raised by 25 bps to 5% and lending facility by 25 bps to 6.5%, the central bank announced.
The decision was made following the US’ Federal Reserves decision overnight to raise the fed funds rate. In a state, the Fed sets the target range for the federal funds rate now between 2% and 2.25%, which is the highest since the Great Recession a decade ago. (*)