Bank Indonesia resumes monetary easing

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The board of governors of Indonesia’s central bank cut interest rates to 3.5%, in what the governor called a bid to stimulate an economic recovery.

The Bank Indonesia board also revised down its growth forecasts, and announced it would continue to buy government bonds from the primary market throughout 2021.

Bank Indonesia governor Perry Warjiyo called on the country’s lenders to start fully passing on rate cuts to borrowers.

Warijyo announced the board had reduced the seven-day repo rate by

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