TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Monetary easing continues as BI lowers bank reserve requirement

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Fri, November 22 2019   /  01:45 am
No more easing: The Bank Indonesia logo is seen on the entrance gate to the central bank’s headquarters in Jakarta.(JP/Rafaela Chandra)(JP/Rafaela Chandra)

No more easing: The Bank Indonesia logo is seen on the entrance gate to the central bank’s headquarters in Jakarta.(JP/Rafaela Chandra)Bank Indonesia (BI) has held its benchmark rate after four consecutive cuts, but it is continuing its monetary easing by relaxing bank reserve requirements, which is expected to add US$1.8 billion to bank liquidity to encourage more lending and spur economic activity.BI kept the so-called seven-day reverse repo rate at 5 percent on Thursday, having cut the benchmark rate by 100 basis points (bps) since July to boost growth amid rising global risks. “Monetary policy remains accommodative and is consistent with controlling inflation in the target corridor, maintaining external stability, as well as efforts to sustain domestic economic growth momentum against a backdrop of global economic moderation,” the board of governors’ statement reads.Although ...