Indonesia holds rates for second month in a row

  • Banking
  • Thursday, 17 Sep 2020

JAKARTA: Indonesia's central bank kept its benchmark interest rate unchanged for a second straight month on Thursday, citing the need to maintain financial market stability amid recent pressure on the rupiah currency.

The 7-day reverse repurchase rate, its main policy rate, was kept at 4.00%, as forecast in a Reuters poll.

Bank Indonesia (BI) also held steady its two other main rates, the deposit facility and lending facility, at 3.25% and 4.75%, respectively.

BI has trimmed the key rate four times, cut required reserves, eased lending rules, as well as purchased government bonds in the primary market to plug the fiscal deficit to support Southeast Asia's largest economy amid the coronavirus pandemic. - Reuters

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