Indonesia holds rates after stock market rout
BI opts to defend exchange rate as country records deflation for first time in 25 years
Indonesia’s central bank today (March 19) held its benchmark seven-day reverse repurchase rate at 5.75%.
Bank Indonesia (BI) also maintained its deposit facility and lending facility rates at 5% and 6.5% respectively.
In a statement, the central bank said growth had been well maintained, despite high levels of uncertainty. It said household consumption remained good but needed more encouragement and that private investment needed to be increased further. It expected GDP growth to remain within
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