Indonesia c.bank leaves key rates unchanged at record low

BI also kept its deposit facility and lending facility rates unchanged at 2.75% and 4.25%

  
The logo of Indonesia's central bank, Bank Indonesia, is seen on a window in the bank's lobby in Jakarta, Indonesia September 22, 2016.

The logo of Indonesia's central bank, Bank Indonesia, is seen on a window in the bank's lobby in Jakarta, Indonesia September 22, 2016.

REUTERS/Iqro Rinaldi

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


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