Indonesian central bank keeps benchmark rate at 4pc | 2018-04-22 |

Indonesian central bank keeps benchmark rate at 4pc

    22 April, 2018 12:00 AM printer

JAKARTA: Indonesia's central bank, Bank Indonesia (BI), kept its lending rate benchmark, popularly known as 7-day Reverse Repo Rate, at 4.25 percent unchanged on Thursday.

The move came in anticipation of the U.S. Federal Reserves' much-expected rate hike in May, reports Xinhua.

"This policy is fit to maintain the stability of our macro economy amid increasing external pressures," BI Deputy Governor Dody Budi Waluyo said.

He added the central bank's previously-applied policy was still appropriate to support domestic economy as it was excellently supported by macro prudential drive as well as good payment system.

The deputy bank governor said it would continue protecting the nation's financial mechanism from international risks related to a possible trade conflict between China and the United States and the change to the U.S. economic policies.

"The central bank would maintain stability of national economy and financial system with sustainable recovery mechanism," he said.