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BI maintains 7-Day Reverse Repo Rate at 5.00%

23 January 2020 14:52

JAKARTA - Bank Indonesia’s (BI) Board of Governors' Meeting (RDG) on January 22-23, 2020 decided to maintain the BI 7-Day Reverse Repo Rate (BI7DRR) at 5.00%. Besides that, the Deposit Facility interest rate was also maintained at 4.25% as well as the Lending Facility interest rate at 5.75%.

“Monetary policy remains accommodative and consistent with controlled inflation forecasts within the target range, maintained external stability, and efforts to maintain the momentum of domestic economic growth,” explained BI Governor Perry Warjiyo in a release. 

The monetary operations strategy continues to aim at maintaining adequate liquidity and supporting the transmission of an accommodative policy mix. Meanwhile, accommodative macroprudential policies were taken to encourage economic financing in line with the sub-optimal financial cycle while still observing the precautionary principle. Payment system policies and financial market deepening policies continue to be strengthened to support economic growth.

Going forward, Bank Indonesia will pay close attention to developments in the global and domestic economy in utilizing an accommodative policy mix space to maintain controlled inflation and external stability, and also support the momentum of economic growth.

Bank Indonesia's coordination with the Government and related authorities continues to be strengthened to maintain economic stability, encourage domestic demand, and increase exports, tourism, and foreign capital inflows, including Foreign Direct Investment (PMA).

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