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MNI STATE OF PLAY: BI Hikes Reserve Requirement, Rates On Hold

MNI (Sydney)
(MNI) Sydney

Indonesian central bank moves to drain liquidity, but keeps rates on hold to 'encourage growth'.

Indonesia’s central bank tightened lending conditions by raising the statutory limits that commercial need to hold as reserves, but kept the benchmark policy rate unchanged.

The benchmark 7-day reserve repo rate was kept at 3.5%, the level it has been since 2020, with the overnight deposit facility rate and the lending facility rate maintained at 2.75% and 4.25%, respectively.

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Indonesia’s central bank tightened lending conditions by raising the statutory limits that commercial need to hold as reserves, but kept the benchmark policy rate unchanged.

The benchmark 7-day reserve repo rate was kept at 3.5%, the level it has been since 2020, with the overnight deposit facility rate and the lending facility rate maintained at 2.75% and 4.25%, respectively.

Keep reading...Show less