JAKARTA - 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) ((firstname.lastname@example.org; +622129927609; Reuters Messaging: email@example.com))