Indonesia Central Bank Governor Sees No Need for Further Rate Hike

BANK INDONESIA / BI - JAKARTA. Bank Indonesia's Governor Perry Warjiyo on Monday said he saw no need for further rate hikes at the moment, even after the rupiah fell to its weakest since 2020 against the dollar last week, partly due to increasing uncertainties in global markets.

Warjiyo told a meeting with parliament's financial committee the rupiah was also under pressure due to domestic U.S. dollar demand for dividend repatriation to offshore shareholders, and market perceptions on fiscal risks amid Indonesia's change of president later in the year.