Indonesia c.bank keeps rates unchanged for 4th straight meeting

  • 6/17/2021
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JAKARTA, June 17 (Reuters) - Indonesia’s central bank held its main interest rates at a record low for a fourth straight meeting, seeking to keep monetary policy accommodative as COVID-19 cases rise, while also aiming to keep financial markets stable amid global uncertainty. Bank Indonesia (BI) kept the benchmark 7-day reverse repurchase rate at a record low of 3.50%, as expected by all 26 economists in a Reuters poll. The overnight deposit facility and lending facility rates were also left at 2.75% and 4.25%, respectively. Since 2020, BI has slashed interest rates by a total of 150 basis points, pumped more than $57 billion of liquidity into the financial system and relaxed lending rules to help the economy recover from the COVID-19 pandemic. (Reporting by Gayatri Suroyo, Fransiska Nangoy and Tabita Diela; Editing by Ana Nicolaci da Costa and Alex Richardson) Our Standards: The Thomson Reuters Trust Principles.

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