JAKARTA - Indonesia's central bank held its benchmark rates unchanged at a record low on Tuesday as it sought to continue to support the economy after a recent devastating COVID-19 wave without adding pressure to the rupiah currency.
Bank Indonesia (BI) held the benchmark 7-day reverse repurchase rate steady at 3.50% for a seventh straight monetary review. All 25 analysts in a Reuters poll had expected rates to remain unchanged as a recent easing of COVID-19 curbs and an export boom brightened the outlook.
BI also kept its deposit facility and lending facility rates unchanged at 2.75% and 4.25%, respectively.
The central bank has cut interest rates by a total of 150 basis points since the pandemic started, and launched a quantitative easing programme that includes the direct purchase of government bonds.
(Reporting by Gayatri Suroyo and Fransiska Nangoy Editing by Ed Davies and Ana Nicolaci da Costa) ((email@example.com; +622129927609; Reuters Messaging: firstname.lastname@example.org))