Central bank keeps key rate at 6.00
Rupiah drops to weakest since August
Trump39;s tariffs among top concerns, governor says
JAKARTA, Dec 18 Reuters Indonesia39;s central bank held its main interest rates steady on Wednesday, as expected by a narrow majority of analysts, to support the sliding rupiah, which hit a fourmonth low earlier in the day.
Bank Indonesia BI held the benchmark rate at 6.00, as predicted by 17 of 31 economists polled by Reuters. The other 14 had expected a 25 basispoint rate cut.
The central bank also left the overnight deposit facility and lending facility rates steady at 5.25 and 6.75.
The focus of monetary policy is directed towards strengthening the rupiah39;s stability against the impact of an increasingly uncertain global economy, Governor Perry Warjiyo told a press conference.
A strong dollar has put the rupiah under pressure since October. It fell to fourmonth low of 16,120 a dollar earlier on Wednesday. It pared some of its losses to trade at 16,085 after BI announced its decision.
The central bank cut rates by 25 bps in September, just ahead of the start of the U.S. Federal Reserve39;s ratecutting cycle, but has held them steady since on concerns about the rupiah and uncertainty around the policies of Donald Trump39;s incoming administration in the US.
Trump39;s tariffs, combined with rising geopolitical tension, are expected to slow global growth next year and fuel inflation by disrupting supply chains, raising expectations…