Bank Indonesia Keeps Rates Unchanged at Highest Level Since 2009 to Support Rupiah

Bank Indonesia kept its benchmark interest rate unchanged at 6.00% as universally expected at its December meeting. Governor Warjiyo said, “we will not rush” to ease next year and that they may only have comfort in addressing risks to the stability of the rupiah by “the second half of 2024.” There was little overall effect on the currency or rates. He added the decision was “consistent with the focus of pro-stability monetary policy, to strengthen the stability of the rupiah … Continue reading “Bank Indonesia Keeps Rates Unchanged at Highest Level Since 2009 to Support Rupiah”

Philippines Central Bank Surprised Raising Rates to 6.50% in Emergency Meeting, Warns of Future Hikes

The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank raised its benchmark interest rate by 25 basis points and hinted at further hikes to contain surging inflation following an emergency meeting on Thursday, lifting the key rate to 6.5%. The move came after inflation accelerated to 6.1% year-on-year in September as food prices rose. It is the highest since the 7.50 percent logged in May 2007. Since it started raising interest rates in May last year, … Continue reading “Philippines Central Bank Surprised Raising Rates to 6.50% in Emergency Meeting, Warns of Future Hikes”

Philippines Central Bank Held Rates at 6.25% with Stable Peso and Downward Inflation Trend

The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank held rates at 6.25%. Rates at their August meeting, the highest since the 7.50 percent logged in May 2007. Since it started raising interest rates in May last year, the BSP has so far increased key policy rates by 425 basis points (bps), making it the most aggressive central bank in the region. BSP Governor Eli Remolona Jr. said “monetary authorities are ready to respond as necessary … Continue reading “Philippines Central Bank Held Rates at 6.25% with Stable Peso and Downward Inflation Trend”

Philippines Central Bank Held Rates at 6.25%, Highest Since May 2007 as Inflation Moderates

The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank held rates at 6.25%. Rates are now the highest since the 7.50 percent logged in May 2007. Since it started raising interest rates in May last year, the BSP has so far increased key policy rates by 425 basis points (bps), making it the most aggressive central bank in the region. Governor Felipe Medalla said “I would like to see two months of below 4% inflation before … Continue reading “Philippines Central Bank Held Rates at 6.25%, Highest Since May 2007 as Inflation Moderates”

Bank Indonesia Keeps Rates Unchanged at Highest Level Since 2009 With Weaker Rupiah

Bank Indonesia kept its benchmark interest rate unchanged at 5.75% as universally expected at it’s April meeting. Guidance emphasized the need to avoid imported inflation and stability risks around a weaker rupiah which leaned against possible nearer-term easing given past indications to strengthen the rupiah exchange rate. BI said the decision came on the back of a stronger currency and easing price pressures. The benchmark 7-day reverse repurchase rate now stands at 5.75%, the deposit facility at 5.00% and the lending … Continue reading “Bank Indonesia Keeps Rates Unchanged at Highest Level Since 2009 With Weaker Rupiah”

Bank Indonesia Keeps Rates Unchanged at Highest Level Since 2009 With Rupiah Stable

Bank Indonesia kept its benchmark interest rate unchanged for a third straight month at it’s April meeting. The pause came after six consecutive hikes to tame inflation and strengthen the rupiah exchange rate. BI said the decision came on the back of a stronger currency and easing price pressures. The benchmark 7-day reverse repurchase rate now stands at 5.75%, the deposit facility at 5.00% and the lending facility at 6.50%, their highest level since 2009 and in line with market forecasts. … Continue reading “Bank Indonesia Keeps Rates Unchanged at Highest Level Since 2009 With Rupiah Stable”

Philippines Central Bank Raised Rates by 25 basis points to 6.25%, Highest Since May 2007

The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank hiked by 25 basis points to 6.25%. Rates are now the highest since the 7.50 percent logged in May 2007. Since it started raising interest rates in May last year, the BSP has so far increased key policy rates by 425 basis points (bps), making it the most aggressive central bank in the region. BSP joined the Federal Reserve and the Hong Kong’s monetary authority in raising … Continue reading “Philippines Central Bank Raised Rates by 25 basis points to 6.25%, Highest Since May 2007”

Bank Indonesia Raised Rates Another 25 basis points to Highest Level Since 2009

Bank Indonesia increased interest rates by 25 bps during the first meeting of 2023, a sixth consecutive hike, on Thursday as it sought to tame inflation and strengthen the rupiah exchange rate. The benchmark 7-day reverse repurchase rate now stands at 5.75%, the deposit facility at 5.00% and the lending facility at 6.50%, their highest level since 2009 and in line with market forecasts. So far since August last year the central bank has lifted rates by 225bps. Indonesia’s annual inflation rate … Continue reading “Bank Indonesia Raised Rates Another 25 basis points to Highest Level Since 2009”

Bank Indonesia Raised Rates by 25 basis points to Highest Level Since 2009

Bank Indonesia increased interest rates by 25 bps during the last meeting of 2022, a fifth consecutive hike, on Thursday as it sought to tame inflation and strengthen the rupiah exchange rate. The benchmark 7-day reverse repurchase rate now stands at 5.5%, the deposit facility at 4.75% and the lending facility at 6.25%, their highest level since 2009 and in line with market forecasts. So far in 2022, the central bank has lifted rates by 200bps. Indonesia’s annual inflation rate fell to … Continue reading “Bank Indonesia Raised Rates by 25 basis points to Highest Level Since 2009”

Philippines Central Bank Raised Rates by 50 basis points to 5.50% with Inflation at 14 Year Highs

The Monetary Board of the Bangko Sentral ng Pilipinas (BSP), Philippines central bank hiked by 50 basis points to 5.50% and follows a 75 basis-point increase at the last meeting. It was the seventh consecutive rate hike, pushing borrowing costs to a new high since early-2009. BSP joined the Federal Reserve and the Hong Kong’s monetary authority in raising its base rate to combat inflation. Later the same day, Taiwan’s central bank announced a 12.5-basis-point increase to 1.75%, The Philippine … Continue reading “Philippines Central Bank Raised Rates by 50 basis points to 5.50% with Inflation at 14 Year Highs”