“Bank Indonesia raised the rate it pays lenders on overnight deposits and said it’s ready to buy government debt in the secondary market as Governor Agus Martowardojo moves to boost confidence in the rupiah weeks after taking charge.
The central bank raised the deposit facility rate, also known as the Fasbi, by a quarter of a percentage point to 4.25 percent effective today, it said in a statement after a board meeting yesterday. The increase is a preemptive step to maintain stability after the rupiah weakened and Bank Indonesia will ensure sufficient liquidity in the market, it said….”
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