Indonesian central bank cuts key rate to 3.5 pct

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JAKARTA, Feb. 18 (Xinhua) — Indonesia’s central bank, Bank Indonesia (BI), on Thursday cut its policy rate by 25 basis points (bps) to 3.5 percent, aiming to support the country’s economy that is hit hard by the coronavirus pandemic.

The central bank has also decided to set deposit and lending rate benchmarks at 2.75 percent and 4.25 percent respectively.

The country’s central bank governor Perry Warjiyo said that Bank Indonesia continues to strengthen the policy synergy with the government and other relevant authorities, and supports various further policies in a bid to build optimism on the national economic recovery.

He went on to say that these will be through opening up productive and safe economic sectors, accelerating fiscal stimulus, channeling bank credit from the demand and supply side, continuing monetary stimulus and macro prudential, as well as accelerating economic and financial digitization. Enditem

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