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

BI kept the benchmark 7-day reverse repurchase rate at a record low of 3.50%

  
People walks near the fountain of Indonesia's central bank, Bank Indonesia, in Jakarta, Indonesia January 19, 2017.

People walks near the fountain of Indonesia's central bank, Bank Indonesia, in Jakarta, Indonesia January 19, 2017.

REUTERS/Fatima El-Kareem

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) ((gayatri.suroyo@thomsonreuters.com; +622129927609; Reuters Messaging: gayatri.suroyo.thomsonreuters.com@reuters.net))


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