Best for banks to lend

Banking regulator: The facade of the Bank Indonesia building in Jakarta. The central bank said demand for bank loans was sluggish even before the virus outbreak. - AFP

JAKARTA: Indonesian authorities urged its top banks to lower interest rates and boost lending to sectors hit by the coronavirus, as South-East Asia’s largest economy steps up efforts to mitigate the economic fallout from the epidemic.

Banks have been asked to pass on the benefits of recent cuts in benchmark interest rates and reserve requirements to borrowers, especially small and medium-sized enterprises,