- Bank Indonesia (“BI”) has now lowered the BI Seven-Day Reverse-Repo Rate (“BI7DRRR”) by 25 basis points to 3.75% based on a decision of the BI Board of Governors which was made during a meeting held between 18 - 19 November 2020.
- BI’s Governor, Perry Warjiyo, has revealed that the decision in question was made by taking into account the current low inflation forecast, the need to maintain external stability and as a follow-up to efforts to accelerate national economic recovery. In addition, BI has also now lowered its deposit facility rate by 25 points to 3% and its lending facility rate by the same amount to 4.5%.
- Mr. Warjiyo has also reaffirmed BI’s commitments to providing liquidity in order to support government efforts to accelerate the realization of the 2020 State Budget.
- BI has lowered the BI7RRR a total of four times this year, with the most recent reduction coming after BI maintained a rate of 4% between July and October of 2020. During the last year, between 21 November 2019 and 21 November 2020, BI has lowered the BI7RRR by an overall total of 125 basis points. (ANT)
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