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Indonesia CB Holds Policy Rate at Record Low, as Expected

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JAKARTA, May 25 Reuters Indonesias central bank left its benchmark policy rate at a record low on Tuesday, seeking to maintain support for Southeast Asias biggest economy while ensuring stability in financial markets amid the risk of outflows.

Bank Indonesia BI kept the 7day reverse repurchase rate at 3.50, where it has been since February, as expected in a Reuters poll of 23 economists.

The central bank also left the overnight deposit facility and lending facility rates unchanged at 2.75 and 4.25, respectively.

BI has slashed interest rates by a total of 150 basis points, pumped more than 55 billion of liquidity into the financial system and relaxed lending rules since 2020 to help the economy recover from the COVID19 pandemic.

Reporting by Gayatri Suroyo and Fransiska Nangoy Editing by Ed Davies and Jacqueline Wong

Source Reuters

 

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