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Bank Indonesia keeps benchmark rate unchanged

Bank Indonesia (BI) has kept its benchmark rate unchanged for five consecutive months to safeguard the country’s external balance.
Bank Indonesia keeps benchmark rate unchanged ảnh 1BI Governor Perry Warjiyo (Photo: Antara News)

Jakarta (VNA) – Bank Indonesia (BI) has kept its benchmark rateunchanged for five consecutive months to safeguard the country’s externalbalance.

Following a two-day board of governors meeting, the central bank announced onApril 25 that it kept the seven-day reverse repo rate at 6 percent, and thedeposit and lending facility rates were maintained at 5.25 and 6.75 percent,respectively.

BI Governor Perry Warjiyo said that the decision is in line with the centralbank and government’s efforts to stabilise the economy, adding BI will monitorthe latest development in Indonesia’s balance of payment accounts.

In addition, the bank also announced several policies to boost growth in domesticdemand. Those include holding foreign exchange swap and repo term auctions morefrequently, effective from May 6, lowering the cost of its DomesticNon-Deliverable Forward (DNDF) with transaction values up to 5 million USD.

BI is drafting a regulation for market operators in the domestic money andforeign exchange markets to increase transaction efficiencies in the marketwhile developing a commercial securities market as an alternative source forshort-term funding for corporations, Perry said.

The bank will continue encouraging more electronic transactions by carrying outvarious government programmes such as non-cash food assistance programme.-VNA
VNA
#Bank Indonesia (BI)#benchmark rate unchanged#country’s external balance#seven-day reverse repo rate#short-term funding#non-cash food assistance programme#Vietnam News Agency#Vietnamplus
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