Indonesia hikes key interest rate to 6.25% as rupiah slumps
JAKARTA -- Indonesia's central bank raised its benchmark interest rate by 25 basis points to 6.25% on Wednesday as it tries to shore up the weak rupiah.
Twenty-nine of 35 economists in a Reuters poll had forecast that the central bank would keep the benchmark rate at 6%, which is the highest it has been since June 2019. Six economists in the poll predicted a quarter-point hike.