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MNI BRIEF: BI Holds Benchmark Rate, Tightens RRR

MNI (Sydney)
SYDNEY (MNI)

Indonesia’s central bank has maintained its benchmark rate unchanged at 3.5% but has once again tightened the statutory reserve requirement ratio (RRR) for commercial banks at its meeting on Tuesday.

As expected, Bank Indonesia kept the 7-day reverse repo rate unchanged at 3.5%, the Deposit Facility interest rate at 2.75% and the Lending Facility rate at 4.25%, (See MNI STATE OF PLAY:Bank Indonesia Balances Timing On Tightening).

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Indonesia’s central bank has maintained its benchmark rate unchanged at 3.5% but has once again tightened the statutory reserve requirement ratio (RRR) for commercial banks at its meeting on Tuesday.

As expected, Bank Indonesia kept the 7-day reverse repo rate unchanged at 3.5%, the Deposit Facility interest rate at 2.75% and the Lending Facility rate at 4.25%, (See MNI STATE OF PLAY:Bank Indonesia Balances Timing On Tightening).

Keep reading...Show less