The decision is relevant to the need to maintain the stability of the rupiah's exchange rate amid the global financial market uncertainty and the projection of low inflation rate.Jakarta (ANTARA) - Bank Indonesia (BI) decided to keep its benchmark rate, or BI Seven-Day Reverse Repo Rate (BI7DRRR), unchanged at 3.5 percent during the two-day meeting of its board of governors ending on Thursday.
"The decision is relevant to the need to maintain the stability of the rupiah's exchange rate amid the global financial market uncertainty and the projection of low inflation rate," BI Governor Perry Warjiyo stated at an online press conference here on Thursday.
Warjiyo also vouched for BI’s consistent support to the country’s economic recovery by optimizing the accommodative macroprudential policy, expediting the deepening of the money market, supporting the international policy, and boosting digitization of the financing system.
At the meeting, the central bank also took the decision to maintain the deposit facility rate at 2.75 percent and lending facility rate at 4.25 percent.
At the meeting of the board of governors last month, BI lowered the benchmark rate by 25 basis points to touch 3.5 percent, from 3.75 percent a month before.
BI lowered its benchmark rate by 150 basis points from 2020 to February 2021.
Related news: Indonesia's foreign debts at Jan-end 2021 reached US$420.7 billion
Related news: BI: Support acceleration, expansion of regional digitization
Related news: BI survey indicates improved consumer confidence in economic condition
Translator: Satyagraha/Suharto
Editor: Sri Haryati
Copyright © ANTARA 2021
