Indonesia raises key rate more than expected as rupiah weakens

JAKARTA – Indonesia’s central bank delivered a bigger-than-expected interest rate hike to stem inflation and stabilise the rupiah, marking an aggressive turn for policy makers who were monetary policy outliers until last month. Bank Indonesia raised the seven-day reverse repurchase rate by 50 basis points, the biggest increment since 2018, to 4.25 per cent on […]

Toyota plans $2.5 billion Indonesia investment to build electric vehicles

JAKARTA (REUTERS) – Japanese carmaker Toyota Motor plans to invest 27.1 trillion rupiah (S$2.5 billion) in Indonesia in the next five years to produce electric vehicles (EVs), Indonesia’s economics ministry said on Wednesday (July 27). The South-east Asian country aims to become a global hub for producing and exporting EVs through processing its rich supplies of nickel […]