Indonesia's central bank holds key rate at 4 pct to safeguard rupiah amid pandemic
Source: Xinhua | 2020-10-14
The Indonesian central bank, Bank Indonesia (BI), Tuesday held the key interest rate at 4 percent for the fourth consecutive month.
The move is to maintain the stability of the rupiah exchange rate as the central bank expected inflation to remain low, BI Governor Perry Warjiyo told a virtual press briefing on Tuesday.
"BI will undertake quantitative easing measures through liquidity provisions, including BI's support for the government to speed up budget disbursement to support the economic recovery," he said, following a two-day policy meeting with the board of governors.
The deposit facility and the lending facility were also kept at 3.25 percent and 4.75 percent respectively.
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