simbaslots| Indonesia's central bank keeps key interest rate unchanged, governor says he will continue to intervene in foreign exchange markets

Unexpected interest rate hikes eased last monthsimbaslotsIndonesia's central bank left its benchmark interest rate unchanged on Wednesday after pressure from the Indonesian rupiah.

Governor Perry Warjiyo and his Monetary Policy Committee, whose main responsibilities include maintaining exchange rate stability, kept the benchmark interest rate at 6.simbaslots.25%, in line with the expectations of all 38 economists surveyed by Bloomberg. Warjiyo had signaled earlier this month that the meeting would sit tight, saying April's austerity measures helped prop up the Indonesian rupiah.

Warjiyo said at a press conference on Wednesday that the Indonesian central bank will continue to intervene in the foreign exchange market to support the Indonesian rupiah. He said that not holding this meeting is in line with the monetary policy focus of maintaining stability and is also a preventive measure aimed at maintaining inflation within the target range of 1.5%-3.5% in 2024 and 2025.

Indonesia's central bank maintained an optimistic outlook for economic growth and inflation at its meeting this week.

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