Global Currencies On Thursday, Bank Indonesia raised both its benchmark rate and deposit rate by 50 basis points to 6.5 percent and 4.75 percent, respectively, as it attempts “to battle accelerating inflation, halt foreign outflows and bolster its weak currency.” As anticipated, Bank of Japan left its rate unchanged at 0.1 percent. Speculation that the Fed Reserve could cut stimulus spending had the Australia’s dollar falling below “90 U.S. cents for the first time since September 2010.” The news had the U.S. dollar advancing against most of its 16 major counterparts.
Posted on: Sat, 13 Jul 2013 15:46:25 +0000
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