Indonesia’s central bank maintained its benchmark interest rate at 5.75% for the fifth month. The bank aims to keep inflation within its 2%-4% goal for the rest of the year, lowering its end-2023 forecast to 3.2% from 3.3% previously, despite potential impacts from El Niño. The central bank is also using its USD reserves to stabilize the rupiah and plans to continue selling short-term bonds and optimizing its FX term deposit facilities to support the local currency.