# Indonesia's central bank delivers surprise rate hike to anchor rupiah

> Bank Indonesia unexpectedly raised its 7-day reverse repo rate by 25 basis points to 6.25%, its first hike since October. The move aims to support the rupiah, which had fallen to four-year lows amid risk aversion and delayed expectations of US easing.

- Date: 2024-04-24 · published 2024-04-24T12:00:00.000Z
- Category: macro · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/31049-indonesia-s-central-bank-delivers-surprise-rate-hike-to-anchor-rupiah
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A stronger rupiah and tighter Indonesian policy reduce import cost pressure for Indonesian feed and oilseed buyers, while a firmer dollar environment generally weighs on dollar-denominated commodity prices.

## Read by commodity

- USDIDR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2018-09-27 | [Bank Indonesia Raises Rate a 5th Time, Plans Tool to Aid Rupiah](https://feedsoft.ai/events/63355-bank-indonesia-raises-rate-a-5th-time-plans-tool-to-aid-rupiah.md) | -0.8% | -0.8% |
| PALMOIL | 2022-07-11 | [USD/IDR: Indonesian rupiah poised to remain robust in July – Mizuho: Analytics and Market news from 11 July 2022 06:48](https://feedsoft.ai/events/40801-usd-idr-indonesian-rupiah-poised-to-remain-robust-in-july-mizuho-analytics-and.md) | -8.9% | -8.4% |
| PALMOIL | 2024-09-26 | [BNM deputy governor: Malaysia’s reforms and US interest rate clarity keep ringgit on the up \| Malay Mail](https://feedsoft.ai/events/28588-bnm-deputy-governor-malaysia-s-reforms-and-us-interest-rate-clarity-keep.md) | +8.4% | +9.5% |
| PALMOIL | 2018-09-28 | [Ringgit, KLCI down after US interest-rate hike](https://feedsoft.ai/events/63304-ringgit-klci-down-after-us-interest-rate-hike.md) | +0.3% | -0.9% |
| PALMOIL | 2023-02-20 | [Surplus Transaksi Berjalan Bikin Rupiah Kuat, Sampai Kapan?](https://feedsoft.ai/events/37663-surplus-transaksi-berjalan-bikin-rupiah-kuat-sampai-kapan.md) | +0.5% | -3.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/asia/indonesias-central-bank-delivers-surprise-rate-rise-support-rupiah-2024-04-24/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.