Bank Indonesia holds the benchmark rate at 4.75%

JAKARTA (TheInsiderStories) – Bank Indonesia hold its benchmark rate  at 4.75% to maintain macroeconomic and financial stability as well as to support domestic economy recovery amid global volatility risks.

“Board of Governors’ Meeting decided to keep the BI 7-Days-Repo-Rate steady at 4.75% with the deposit facility rate remained at 4% while the lending facility rate remained at 5,50%,” said Governor of BI Agus Martowardojo in the press conference on Thursday.
He explained, the central bank kept the benchmark rate based on the rate policy developments in the United States and geopolitics, particularly on the Korean Peninsula. Meanwhile, from the domestic side, BI remain wary the effects of administered prices adjustment on inflation as well as the continued consolidation of corporations and banks.