YAKARTA, 19 Aug (Reuters) – Indonesia’s central bank kept its benchmark interest rate unchanged Wednesday as expected, saying that the existing point was in line with efforts for Southeast Asia’s largest economy while maintaining stability amid the COVID-19 pandemic.
The Bank of Indonesia (BI) kept the 7-day reseal rate at 4.00%, and the lowest since at least 2016, when the benchmark rate began, as predicted by top economists in a Reuters survey.
Its two main policy rates, sight deposit and loan rates, also remained strong at 3.25% and 4.75%.
BI has lowered the key rate 4 times this year in reaction to the pandemic.
He also pledged to buy $28 billion in government bonds while giving up interest payments, among other policies to inject liquidity into the monetary system.(Report through Gayatri Suroyo, Fransiska Nangoy and Tabita Diela; edited through Jacqueline Wong).
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