KONTAN.CO.ID - JAKARTA. Indonesia's central bank cut interest rates on Thursday as it stepped up efforts to pull the coronavirus-hit economy out of its first recession in over 20 years. Bank Indonesia (BI) cut the 7-day reverse repurchase rate by 25 basis points (bps) to 3.75%, the lowest since BI began using the instrument as its benchmark in 2016. The move was forecast by just 8 of 22 economists in a Reuters poll, with the majority expecting BI to stand pat. Read Also: Thailand central bank keeps key rate at 0.50% but says economic recovery fragile
Indonesia central bank cuts rates to boost economy in recession
KONTAN.CO.ID - JAKARTA. Indonesia's central bank cut interest rates on Thursday as it stepped up efforts to pull the coronavirus-hit economy out of its first recession in over 20 years. Bank Indonesia (BI) cut the 7-day reverse repurchase rate by 25 basis points (bps) to 3.75%, the lowest since BI began using the instrument as its benchmark in 2016. The move was forecast by just 8 of 22 economists in a Reuters poll, with the majority expecting BI to stand pat. Read Also: Thailand central bank keeps key rate at 0.50% but says economic recovery fragile