Indonesia C.Bank Holds Rates at First 2021 Meeting

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JAKARTA, Jan 21 Reuters Indonesias central bank kept key interest rates unchanged at a record low on Thursday, as expected, holding fire after providing a bout of monetary stimulus last year to support the coronavirushit economy.

Bank Indonesia BI left the 7day reverse repurchase rate at 3.75, the lowest since the central bank began using it as its benchmark in 2016. A majority of analysts in a Reuters poll had expected rates to remain steady.

BI also kept its overnight deposit facility and lending facility rates at 3.00 and 4.50, respectively.

Last year, BI slashed interest rates five times totalling 125 basis points, pumped some 50 billion worth of liquidity into the financial system and relaxed lending rules to help Southeast Asias largest economy weather the COVID19 pandemic. The central bank last cut rates in November.

Reporting by Gayatri Suroyo, Fransiska Nangoy and Tabita Diela; Editing by Ana Nicolaci da Costa

 

Source Reuters

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