Indonesia holds key rate at 7.5 pct amid efforts to stabilize rupiah
Xinhua, September 17, 2015 Adjust font size:
The Indonesian central bank on Thursday kept its benchmark interest rate unchanged for a seventh month as it focuses on maintaining the stability of rupiah.
The meeting of Bank Indonesia's board of governors decided to hold the reference rate at 7.5 percent despite subdued GDP growth, spokesman of the bank Tirta Segara said.
The lender also kept its overnight deposit and lending facilities rate at 5.50 and 8.00 percent respectively, he said at his office.
Rupiah has been weakening since March and at one point plunged to the lowest in 17 years. It was trading at 14,452 per U.S. dollar on Thursday, according to the central bank website.
The Indonesian government has unveiled a massive economic stimulus package earlier this month to lure foreign investment, help prop up rupiah and accelerate economic growth. Endi