BI keeps benchmark rate unchanged at 4.5%

Jakarta (ANTARA) – Bank Indonesia (BI) has decided to keep the 7-Day Reverse Repo Rate unchanged at 4.5 percent after a meeting of its board of governors on Monday and Tuesday (May 18-19, 2020).

“The decision takes into account the need to stabilize the exchange rate amidst the global financial market uncertainty,” Bank Indonesia Governor Perry Warjiyo said here on Tuesday.

The central bank has also decided to maintain the rate on deposit facility and the rate on lending facility at 3.75 percent and 5.25 percent, respectively.

Bank Indonesia said it sees room for reduction of interest rate, in keeping with the low inflationary pressure and the need to spur economic growth in 2020.

The central bank will also continue to strengthen a policy mix directed at mitigating the spread of COVID-19, guard the stability of the money market and the financial system, and work with the government and the financial services authority to hasten national economic recovery. (INE)

 

 

Source: Antara News