How Long Until Financial Market Rout Subsides?

By Editorial Team 20/03/2020
Summary

The Jakarta Composite Index (JCI) slumped 225.25 points or 5.20 percent to 4,105.42 at the close on Thursday (3/19). Foreign investors recorded net sales of Rp 636.23 billion in all markets. While in the spot market, the rupiah depreciated 4.53 percent.

BI decided to cut the seven days reverse repo rate (7DRR) by 25 basis points (bps) to 4.5 percent during the Board of Governors' Meeting on Thursday (3/19). The central bank also revised Indonesia's economic growth projection this year to 4.2 percent - 4.6 percent, due to the challenges of domestic economic growth caused by the widespread Covid-19.

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