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1.Market Observations, 8.Was Sticky

31 May 2018 (AFR) – Indonesia hikes rates again to prevent capital flight

(31 May 2018, AFR, p35, by Patrick Commins)

Capital flight hits the Indonesian currency (Bloomberg)

Capital flight hits the Indonesian currency (Bloomberg)

‘Indonesia’s central bank on Wednesday lifted rates for the second time in less than two weeks as policymakers moved aggressively to fend off the threat of further capital flight. Bank Indonesia (BI) lifted its key policy rate by a quarter of a percentage point to 4.75 per cent in an out-of-cycle meeting that followed a similar move on May 17, as new central bank governor Perry Warjiyo moved quickly to deliver on a pledge to stabilise the rupiah.’

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