Bank Indonesia Faces Rate-Hike Pressure After MSCI Warning Triggers Market Rout
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Bank Indonesia faces pressure to raise its benchmark rate from 5.75% after MSCI threatened to downgrade the market from emerging to standalone status. Citi expects a 50-basis-point hike to 6.25%, while others forecast 6%, as stocks sold off and the rupiah fell 8% this year to 18,030 per dollar.
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