Central banks in Southeast Asia are tightening their policy in a bid to choke off surging inflation.
Indonesia's authorities have announced their first rate hike in three years and nine months.
The key policy-interest rate went up by a quarter of a percentage point to 3.75 percent on Tuesday.
The move comes as Indonesians are paying more for food and other items. Consumer prices rose 4.9 percent in July, a roughly seven-year high.
Officials at Bank Indonesia say the hike is aimed at lowering the risk of accelerated inflation.
Thailand's central bank also lifted its key rate this month for the first time in three years and eight months.
Consumer prices rose to their highest levels in more than 14 years.
Inflation isn't the only worry for the Southeast Asian nations. They also want to stop a decline in the value of their currencies.
Indonesia's authorities have announced their first rate hike in three years and nine months.
The key policy-interest rate went up by a quarter of a percentage point to 3.75 percent on Tuesday.
The move comes as Indonesians are paying more for food and other items. Consumer prices rose 4.9 percent in July, a roughly seven-year high.
Officials at Bank Indonesia say the hike is aimed at lowering the risk of accelerated inflation.
Thailand's central bank also lifted its key rate this month for the first time in three years and eight months.
Consumer prices rose to their highest levels in more than 14 years.
Inflation isn't the only worry for the Southeast Asian nations. They also want to stop a decline in the value of their currencies.
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Summary
Central banks in Southeast Asia increase interest rates to combat surging inflation: Indonesia raised its key policy rate by 0.25% after a three-year, nine-month pause, following July's 4.9% consumer price increase, a seven-year high. Thailand also lifted its key rate for the first time in three
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ID: 6305ff1c-43b8-4e7f-9ebf-3082c0a80b98
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20220824_14/
Date: Aug. 24, 2022
Created: 2022/08/24 19:36
Updated: 2025/12/09 14:09
Last Read: 2022/08/24 19:36