Bank Indonesia expected to stand pat on interest rates

BI has trimmed the rate four times this year for a total 100 basis points, bought government bonds and loosened lending rules to bolster Indonesia’s coronavirus-stricken economy.

JAKARTA: Indonesia’s central bank is expected to keep its benchmark interest rate unchanged today and continue to focus on supporting South-East Asia’s largest economy via quantitative easing, according to analysts in a Reuters poll.

All but two of 27 analysts in the poll expected Bank Indonesia (BI) to maintain its 7-day reverse repurchase rate at 4.00%, where it has been since July. The two contrarians said BI would cut the rate by 25 basis points.