In a bold move to stabilize its currency, Bank Indonesia announced a critical adjustment to its monetary policy on Wednesday. The central bank lifted its benchmark seven-day reverse repo rate by 25 basis points, setting it at 6.25%. This initiative marks the first rate hike since October of the previous year, aimed directly at supporting […]
Related Posts
Fitch Maintains Brazil’s “BB” Rating with Stable Outlook
Fitch Ratings reaffirmed Brazil’s credit rating at “BB” with a stable outlook, recognizing the country’s economic strengths and challenges. Brazil boasts a large and diversified economy, high per capita income, and strong external finances, which help it weather financial shocks. Additionally, the country has low foreign currency debt, which further supports its rating. Despite these […]
Uruguay joins BRICS bank, marking expansion in South America
Uruguay, one of South America’s smaller economies, has become the second country in the region after Brazil to join the New Development Bank (NDB), established by the BRICS nations: Brazil, Russia, India, China, and South Africa. This move came two years after its 2021 membership acceptance, when the bank also inducted Bangladesh, United Arab Emirates, […]
