Indonesia central bank raises interest rates by more than expected

JAKARTA, May 20 (Reuters) – Indonesia’s central bank raised ​its policy interest ‌rates for the first time in two years at ‌a ​policy ⁠review on Wednesday.

Bank ⁠Indonesia (BI) hiked its benchmark 7-day reverse repurchase rate ​by 50 basis points to ⁠5.25%.

Sixteen ⁠of 29 economists ​in a Reuters ​survey had expected a ‌25-basis-point increase, while the rest had expected ⁠no change.

BI also raised its overnight deposit ⁠facility ‌and lending ⁠facility rates by ​the ‌same amount, ​to 4.25% ⁠and 6.00%, respectively.

(Reporting by Gayatri Suroyo, Ananda Teresia; Editing by John ​Mair)