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Bank Indonesia raises interest rates with 0.75% JAKARTA - Indonesia's central bank on Tuesday raised its benchmark target rate by three quarters of a percentage point to 9.5 percent and said it would increase banks' reserve requirements as it attempted to support the country's battered markets. Following are analysts' views on the policy moves.

This was largely expected, but it has come much later than it should have. What essentially started off as an excess liquidity problem and also an oil subsidy problem has blown out into a full-fleged confidence crisis. "The measures are coming late, but on balance they are probably just. Indonesia, as expected, has used both reserve requirements and interest rates hikes.

"What they might also do is to get exporters to bring their money back much quicker and dollar deposit rates have also been raised. Basically this means they want off shore dollars to come back. "This was a market in panic so these measures should help the rupiah in the short term. But Indonesia really needs to get Pertamina out of the onshore dollar market."


Related blog entries (category 'Economy') Related blog entries (category 'Economy'):
30 August 2005 · CreditSights: 'Bank Indonesia rate may rise to 12 percent'
29 August 2005 · Rupiah loses more ground as market confidence ebbs
28 August 2005 · New oil refinery inaugurated in Indonesia
26 August 2005 · Rupiah set for biggest drop in 4 years on oil surge
25 August 2005 · Indonesia raises rates as rupiah plunges again


Posted in Economy @ 30 August 2005 10:17 CET by Jeroen · 'Blog' RSS feed · permalink





Ruben
User
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very sad!



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