KONTAN.CO.ID - JAKARTA. Indonesia's central bank kept interest rates steady on Tuesday, holding fire for a third straight meeting to avoid adding pressure to a falling rupiah but reiterated its pledge to use quantitative easing measures to support the economy. Bank Indonesia (BI) kept the 7-day reverse repurchase rate at 4.00%, as expected in a Reuters poll, after delivering 100 basis points of rate cuts so far this year. Southeast Asia's largest economy is headed for its first recession in over two decades with the coronavirus outbreak still raging in the country with the largest COVID-19 death toll in the region.
Indonesia central bank holds rates, stresses quantitative easing for economic support
KONTAN.CO.ID - JAKARTA. Indonesia's central bank kept interest rates steady on Tuesday, holding fire for a third straight meeting to avoid adding pressure to a falling rupiah but reiterated its pledge to use quantitative easing measures to support the economy. Bank Indonesia (BI) kept the 7-day reverse repurchase rate at 4.00%, as expected in a Reuters poll, after delivering 100 basis points of rate cuts so far this year. Southeast Asia's largest economy is headed for its first recession in over two decades with the coronavirus outbreak still raging in the country with the largest COVID-19 death toll in the region.