Illustration (Photo:Medcom.id/M Rizal)
Illustration (Photo:Medcom.id/M Rizal)

BI Holds Key Interest Rate at 4%

English indonesian economy (en)
Husen Miftahudin • 13 Oktober 2020 18:54
Jakarta: Bank Indonesia (BI) has decided to once again to hold the BI 7-Day Reverse Repo Rate at 4.00 percent, while also maintaining the Deposit Facility (DF) and Lending Facility (LF) rates at 3.25 percent and 4.75 percent.
 
The decision is consistent with the need to maintain rupiah exchange rate stability against a backdrop of projected low inflation.
 
"Bank Indonesia is focusing on the quantity channel by providing liquidity, including support for the Government in terms of accelerating state budget realisation in 2020 to hasten the economic recovery from covid-19," said BI Governor Perry Warjiyo during a virtual press conference here on Tuesday.

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In addition, the central bank is also implementing other measures, such as maintaining rupiah exchange rate stabilisation policy, strengthening the monetary operations strategy, accelerating money market and foreign exchange market deepening, stimulating small and medium-sized enterprises, and strengthening the digital economy and finance ecosystem.
 
"Bank Indonesia will continue to implement the follow-up policy measures required to support the national economic recovery program by carefully observing global economic and financial market dynamics as well as covid-19 transmission and the impact on the economic outlook of Indonesia over time," Perry stated.
 
Close policy coordination with the Government and Financial System Stability Committee will also constantly be strengthened to maintain macroeconomic and financial system stability, while accelerating the national economic recovery.
 
(WAH)

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