Indonesia Central Bank Keeps Benchmark Interest Rate at 3.5%
[Asia Economy Reporter Onyu Lim] The Bank of Indonesia (BI) has decided to keep its benchmark interest rate unchanged.
On the 25th (local time), the central bank decided to maintain the 7-day reverse repurchase agreement rate at 3.50%. The purpose is to support the economy, which has been hit by COVID-19, by maintaining financial market stability.
In a survey conducted by The Wall Street Journal (WSJ) of seven economists, they also expected Indonesia to keep the benchmark interest rate unchanged to stabilize the rupiah exchange rate.
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The bank also maintained the one-day deposit rate and lending rate at 2.75% and 4.25%, respectively.
This content was produced with the assistance of AI translation services.
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