Indonesia c.bank holds rates, stresses QE for economic support

Bank Indonesia has also cut interest rates four times this year, cut required reserves and loosened lending rules to fight the economic fallout from the coronavirus pandemic.

JAKARTA: Indonesia's central bank kept interest rates steady on Tuesday, holding fire for a third straight meeting to avoid adding pressure to a falling rupiah but reiterated its pledge to use quantitative easing measures to support the economy.

Bank Indonesia (BI) kept the 7-day reverse repurchase rate at 4.00%, as expected in a Reuters poll, after delivering 100 basis points of rate cuts so far this year.