Indonesia's central bank raised interest rates by 25 basis points on Tuesday (Jun 9) in an unexpected off-cycle rate hike, taking the benchmark rate to 5.50 per cent as it moves to stabilise the rupiah, which has hit a series of record lows. The rupiah has been under pressure due to a wide range of investor worries, including President Prabowo Subianto's big spending plans and a ballooning fuel subsidy budget following the Iran war, along with doubts about the central bank's autonomy and