Bank Indonesia holds its policy rate at 5.75 percent for a third meeting
Bank Indonesia left its policy rate at 5.75 percent at the 22-23 September meeting, and it also left the deposit rate at 4.75% and the lending rate at 6.50%. Bloomberg said the central bank kept the key rate unchanged for a third straight meeting while the rupiah stayed under pressure. The figure is the bank's. The third-meeting count is Bloomberg's.
Economics & Markets··Midday
The bank publishes 5.75 percent
Bank Indonesia said the 22-23 September meeting held the policy rate at 5.75 percent. The same release left the deposit facility at 4.75% and the lending facility at 6.50%. August inflation rose to 3.19 percent from a year earlier, the bank's account notes. Those figures belong to the central bank's own news release, not to a wire paraphrase. Bloomberg reported that Indonesia's central bank kept its interest rate unchanged for a third straight meeting. Bloomberg said the bank chose to rely on continued intervention and increased hedging incentives while pressure on the rupiah renewed. Bloomberg's lede does not restate the 5.75 percent figure. It confirms the hold and the third meeting.[1], [2]
A hold, counted twice
The bank's release and Bloomberg describe one decision. The rate did not move. Bank Indonesia supplies the level, 5.75 percent, and the two corridors around it. Bloomberg supplies the sequence, a third consecutive meeting, and the rupiah pressure the board was answering with intervention rather than moving the rate. The shared fact is the hold. The extra facts stay with the newsroom that printed them. August's 3.19 percent inflation reading is in the bank's release. That inflation figure is the bank's, not Bloomberg's. The hedging incentives and the intervention line are in Bloomberg's lede. Those hedging lines sit in Bloomberg's account, beside the bank's percentages. A reader can see why the board might care about the currency, and can also see which sentence comes from which desk.[1], [2]
What the decision does not say
Neither account says the rupiah recovered after the announcement, and neither gives a market close for the currency. Bloomberg's phrase is pressure, renewed, and a choice to intervene and to encourage hedging. The bank's phrase is the rate path it actually set. The policy rate, the deposit rate, and the lending rate are a trio. Only the first of them is the headline number, 5.75 percent. The next meeting is not dated in the sentences used here. A later rate move would be a later card. This one closes on a hold that the central bank measured at 5.75 percent and that Bloomberg counted as the third in a row, taken while the rupiah was still under pressure.[1], [2]
