JAKARTA - Indonesia's economic contraction in 2020 was greater than the central bank had anticipated and the pace of the recovery was slower than expected, Bank Indonesia's (BI) governor told lawmakers on Tuesday.
BI Governor Perry Warjiyo told a hearing with parliament's finance committee that the central bank has room for further interest rate cuts, even after 2020's 125 basis point reduction in its benchmark rate and it will use all policy instruments to accelerate economic recovery.
(Reporting by Gayatri Suroyo and Tabita Diela Editing by Ed Davies) ((gayatri.suroyo@thomsonreuters.com; +622129927609; Reuters Messaging: gayatri.suroyo.thomsonreuters.com@reuters.net))
