Wednesday, April 17, 2024

Indonesia’s central bank holds benchmark interest rate at 3.5 pct

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JAKARTA, Nov. 18 (Xinhua) — Bank Indonesia, the country’s central bank, on Thursday decided to maintain the benchmark interest rate at 3.5 percent.

“This decision is in line with the need to maintain the stability of the exchange rate and the financial system amidst low inflation forecasts,” Bank Indonesia’s Governor Perry Warjiyo said in a virtual press conference.

Likewise, the deposit facility interest rate remains at 2.75 percent and the lending facility interest rate remains at 4.25 percent.

The central bank estimates that the economic growth of the Southeast Asian country in 2022 will improve, as mobility increases after the acceleration of COVID-19 vaccination and the recovery of various economic sectors.

Bank Indonesia continues to optimize all policies to maintain macroeconomic and financial system stability as well as to support further economic improvement efforts, Warjiyo said.

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