JAKARTA -- Indonesia's central bank raised its benchmark interest rate on Tuesday for the first time nearly in four years amid concerns over rising inflation due to the war in Ukraine and aggressive tightening by the U.S. Federal Reserve and neighboring central banks.
Bank Indonesia hiked its seven-day reverse repurchase rate to 3.75% from 3.5% -- its first increase since November 2018, when the benchmark stood at 6%, surprising many analysts.
