December 19, 2019 / 7:28 AM / a month ago

Indonesia keeps policy rate steady, as expected

JAKARTA, Dec 19 (Reuters) - Indonesia’s central bank kept its policy rate unchanged on Thursday, as expected, saying current levels remained consistent with efforts to anchor inflation and support economic growth.

The benchmark 7-day reverse repurchase rate was kept at 5.00%, where it has been since Bank Indonesia’s (BI) last rate cut in October, as predicted by the majority of analysts in a Reuters poll.

BI this year has issued a series of policy loosening steps aimed at lifting GDP growth amid a global economic slowdown, including four rate cuts totalling 100 basis points.

BI’s two other main rates for overnight deposit and lending facilities were also kept unchanged at 4.25% and 5.75%, respectively. (Reporting by Tabita Diela and Nilufar Rizki; Writing by Gayatri Suroyo; Editing by Jacqueline Wong)

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