Bank Indonesia cuts rate to record low
Central bank cuts rate for fourth time in 2020 as inflation hits lowest point in 20 years
Indonesia’s central bank made its fourth rate cut this year today (July 16), taking its benchmark rate to its lowest level on record.
Bank Indonesia cut the seven-day reverse repurchase rate by 25 basis points to 4%. This is the lowest level since the central bank started to use the rate as its policy rate in August 2016.
The easing move came after Bank Indonesia announced that it would buy $28 billion worth of newly issued government bonds on the primary market. The bond purchases are part of
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