Bank Indonesia lifts benchmark rate to over 3-year high of 5.75%

As Malaysia holds fast, Jakarta's central bank moves to quell inflation

Bank Indonesia, the country's central bank raised its benchmark interest rate for the sixth month in a row on Jan. 19 as it tries to put a lid on rising prices. © Reuters

NANA SHIBATA and ISMI DAMAYANTI, Nikkei staff writers

January 19, 2023 16:28 JST

Updated on January 19, 2023 17:23 JST

JAKARTA -- Indonesia's central bank on Thursday raised its benchmark interest rate for a sixth consecutive month as it tries to tame inflation, pushing the rate to its highest point since July 2019.