Indonesia central bank holds rates to underpin rupiah

Bank Indonesia (BI) held the benchmark seven-day reverse repurchase rate steady at 4.00% for a second month running.

JAKARTA: Indonesia’s central bank held its key interest rate unchanged yesterday to keep the rupiah currency stable, as the governor stressed that quantitative easing was a better way to support an economy tipping into recession due to the coronavirus pandemic.

Bank Indonesia (BI) held the benchmark seven-day reverse repurchase rate steady at 4.00% for a second month running.