Indonesia Maintains Key Interest Rate at 4.75%

Indonesia has decided to keep its benchmark interest rate steady at 4.75%, aligning with market expectations. According to RTHK, this marks the fifth consecutive time the rate has remained unchanged. The overnight deposit and lending rates are also maintained at 3.75% and 5.5%, respectively. The central bank emphasized its current focus on stabilizing the exchange rate while continuing to assess the economic impact of previous rate cuts. Between September 2024 and the previous year, Indonesia cumulatively reduced its benchmark rate by 1.5%. Recently, the Indonesian rupiah depreciated against the U.S. dollar, nearing a record low.