BI keeps key rate at 8%

Bank Indonesia (the central bank/BI) decided Tuesday to keep its key rate at 8% after taking into account the current economic conditions. "The decision was taken after we evaluated macro economic conditions last year, and taking into account prospects for the monetary economy in the years ahead, risk factors and prospects for the attainment of the inflation rate target of 5, plus or minus 1, percent for 2008," Bank Indonesia Governor Burhanudin Abdullah said in a press conference. Bank Indonesia noted that the 2007 inflation rate met its target of 6.59% thanks to good cooperation between the central bank and the government in controling prices, he said. (http://www.antara.co.id/en/arc/2008/1/8/bi-keeps-key-rate-at-8-pct/)