Bank Indonesia on Tuesday kept its benchmark interest rate unchanged to continue to maintain the stability of the rupiah and sustenance its economic recovery.
The central bank maintained its seven-day reverse repo rate at 3.50%. This was in line with the expectations of a Wall Street Journal poll of six analysts, which unanimously foreseen the central
bank would stand pat.
Bank Indonesia maintained its overnight deposit and lending facility rates at 2.75% and 4.25%, respectively.
The domestic economy has been cultivating in the third quarter, supported by stronger exports, higher consumption and investment actvities, Bank Indonesia Gov. Perry Warjiyo said.
Southeast Asia's largest economy grew 7.1% in the second quarter, as it gradually enhanced from the impact of the pandemic.
In 2020, Indonesia's economy shrunk 2.07%, thanks to the impact of Covid-19. This was the country's first annual contraction since the Asian financial crisis.
As per the latest data of Indonesia's health ministry, the number of Covid-19 cases has crossed 4.2 million and the pandemic has caused 142,952 deaths.
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