Indonesia raises key interest rate to 5.5%, highest in over 3 years

Central bank remains hawkish but shows confidence it can ease inflation

20221116 Bank Indonesia

Bank Indonesia has raised its benchmark interest rate for a fifth consecutive month. © Reuters

NANA SHIBATA and ISMI DAMAYANTI, Nikkei staff writers

JAKARTA -- Indonesia's central bank raised its benchmark interest rate on Thursday for the fifth consecutive month to its highest level since August 2019, as it toughens its fight against inflation.

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