-Bank Indonesia leaves rate steady.Global Banking News-May 10, 2012--Bank Indonesia Indonesia (ĭn'dənē`zhə), officially Republic of Indonesia, republic (2005 est. pop. 241,974,000), c.735,000 sq mi (1,903,650 sq km), SE Asia, in the Malay Archipelago. leaves rate steady(C)2012 ENPublishing - http://www.enpublishing.co.ukGlobal Banking News - 10 May 2012 Bank Indonesia Bank Indonesia is the central bank of Indonesia. Its current governor is Burhanuddin Abdullah. History Bank Indonesia was founded on July 1, 1953, in the Sukarno era - from the nationalization of De Javasche Bank, a Dutch bank dating from colonial times. has kept its overnight benchmark rate unchanged at 5.75 percent. The central bank has confirmed that it will strengthen open market operations Open Market Operations The buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system. Purchases inject money into the banking system and stimulate growth while sales of securities do the opposite. to absorb excess liquidity and only raise the policy rate as a last resort. The consumer price index increased by 4.50 percent last month, compared with 3.97 percent in March, due to uncertainties over government measures to control energy subsidies. Bank Indonesia kept its benchmark rate unchanged last month after cutting it by a total of 100 basis points between October and February amid a global slowdown. [Editorial queries for this story should be sent to gbn@enpublishing.co.uk] ((Distributed via M2 Communications - http://www.m2.com)) |
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