How Will BI Response to Rising Covid-19 Cases?

By Editorial Team 19/03/2020
Summary

Bank Indonesia (BI) is holding monthly Board of Governors' Meeting (RDG) from Wednesday (3/18) to Thursday (3/19), with the impact of the coronavirus (Covid-19) on the economy becomes the main factor towards BI's decision on the benchmark interest rate.

Chief Economist of PT Bank Mandiri Tbk Andry Asmoro said the central bank still has room to reduce the benchmark rate. According to him, BI will cut its 7-day reverse repo rate (7DRR) by 25 basis points (bps) to 4.5 percent.

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