Indonesia’s Central Bank Holds Rates as Rupiah Stability in Focus

Indonesia’s central bank held interest rates steady as widely expected, opting against an easing move as it seeks to stabilize the rupiah.

Bank Indonesia kept its benchmark seven-day reverse repo rate at 4.75% after its policy meeting Wednesday. Nine of 12 economists polled by The Wall Street Journal had expected no change; three forecast a 25-basis-point cut.