JAKARTA (The Jakarta Post/ANN): The latest move by Bank Indonesia (BI) to relax down-payment regulations to boost property and automotive sales will hinge on the appetites of consumers and banks, with the former facing much-reduced purchasing power as a result of the coronavirus pandemic.
BI Governor Perry Warjiyo announced on Thursday (Feb 18) that the central bank would relax the regulations to allow zero per cent down payments for both mortgages and automotive loans to boost demand in both sectors, which have been battered by the Covid-19-induced downturn.