World Economy

Indonesia Upbeat on Inflation Target

Indonesia Upbeat on Inflation TargetIndonesia Upbeat on Inflation Target

Indonesia’s central bank kept its benchmark BI rate steady at 7.50% and said it “remains upbeat that the inflation target for 2015 of 4%, plus/minus 1 percentage point will be achieved,” CountingPips reported. Bank Indonesia, which cut its rate by 25 basis points in February, added that inflationary pressures in June were less intense than previously thought, with the annual inflation rate in June at 7.26%, up from 7.15% in May while core inflation was 5.04%. In June BI merely said that it was confident of meeting its inflation target for 2015.