Indonesia - Korkokanta

Bank Indonesia held its benchmark 7-day reverse repo rate at 5 percent during its November meeting, following four consecutive rate cuts, and lowered the reserve requirement ratio for lenders to provide additional liquidity and support GDP growth. The Bank added that will continue to monitor global financial market conditions and the external stability of the economy. The lending and the deposit facility rates were also left unchanged at 5.75 percent and 4.25 percent respectively.

Bank Indonesia lowered its 7-day reverse repo rate by 25bps to 5.0 percent during its October meeting, as widely expected. It is the fourth consecutive rate cut, bringing borrowing costs to the lowest since May last year, in an attempt to boost economic growth amid low inflation expectations. The overnight deposit and lending facilities were also trimmed by the same amount to 4.25 percent and 5.75 percent, respectively.

Bank Indonesia reduced its 7-day reverse repo rate by 25bps to 5.25 percent during its September meeting, in an attempt to boost economic growth amid low inflation expectations. It was the third straight cut in three months, amid growing concerns about global growth due to continued trade tensions and a number of geopolitical risks. The overnight deposit and lending facilities were also trimmed by the same amount to 4.50 percent and 6.00 percent, respectively.

Bank Indonesia reduced its 7-day reverse repo rate unexpectedly by 25bps to 5.50 percent during its August meeting, the second straight cut in two months, in an attempt to support growth amid low inflation expectations. Last month's rate cut was the first time since September 2017 amid growing concerns about global growth due to continued trade tensions and a number of geopolitical risks. The overnight deposit and lending facilities were also trimmed by the same amount to 4.75 percent and 6.25 percent, respectively.

Bank Indonesia lowered its 7-day reverse repo rate by 25bps to 5.75 percent during its July meeting, the first interest rate cut since September 2017, in an attempt to support growth amid low inflation expectations. The overnight deposit and lending facilities were also trimmed by the same amount to 5.00 percent and 6.50 percent, respectively.

Bank Indonesia held its benchmark 7-day reverse repo rate at 6 percent on June 20th 2019, as widely expected. Policymakers said the decision is directed to ensure the availability of liquidity on the money market. The Committee added that will continue to monitor global financial market conditions and the external stability of the Indonesian economy in considering a reduction in policy rates. The lending and the deposit facility rates were also left unchanged at 6.75 percent and 5.25 percent respectively.