The decision took into account the low inflation forecast and controllable external stability and serves as a further step to speed up national economic recovery.
Jakarta (ANTARA) - Bank Indonesia (BI) decided to slash its benchmark interest rate, or BI seven-day reverse repo rate, by 25 basis points to 3.75 percent following the central bank's board of governors’ two-day meeting, ending Nov 19.

"The decision took into account the low inflation forecast and controllable external stability and serves as a further step to speed up national economic recovery," BI Governor Perry Warjiyo remarked during a virtual press conference following the meeting on Thursday.

During the meeting, BI also lowered the deposit facility rate by 25 basis points to three percent and lending facility rate by 25 basis points to 4.5 percent.

Warjiyo highlighted BI’s unwavering commitment to providing liquidity, including support for the government to expedite realization of the 2020 state budget.

BI lowered the benchmark rate after keeping it unchanged at four percent for the fourth consecutive month until October 2020.

Since November 21 last year, BI has lowered the benchmark rate by 125 basis points.
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Translator: Dewa Ketut SW/Suharto
Editor: Fardah Assegaf
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