JAKARTA: Indonesia’s central bank kept its policy interest rate unchanged on Wednesday, prioritising market stability but loosened some lending rules to spur consumption in the pandemic-hit economy.
The decision came after Southeast Asia’s biggest economy shrank 5.32% in the second quarter, steeper than expected, and amid a rising number of coronavirus cases in the country.
Bank Indonesia (BI) kept the 7-day reverse repurchase rate at 4.00%, already the lowest since at least 2016, when it started using the rate as its benchmark, as expected by the majority of economists in a Reuters poll
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