Indonesia Holds Benchmark Interest Rate Steady at 4.5%

[Asia Economy Reporter Kim Hyemin] The Central Bank of Indonesia (BI) kept the 7-day reverse repurchase agreement (Repo) rate, used as the benchmark interest rate, unchanged on the 19th.

According to Bloomberg News, the Central Bank of Indonesia announced the 7-day reverse repo rate, the benchmark interest rate, at 4.50%. This exceeds the expert forecast of 4.25%.

Indonesia lowered the benchmark interest rate by 0.25 percentage points for two consecutive months in February and March, and has maintained the current rate for three consecutive months.