Bank #Indonesia’s governor pledged to extend monetary stimulus into 2021 to support Southeast Asia’s largest economy, as the country’s president urged the central bank to take on a bigger role in government-led reforms to create jobs.
So far this year, BI has cut rates a total of 125 basis points to a record low, carried out 682 trillion rupiah ($48.37 billion) in quantitative easing, more than half in the form of direct government bond purchases, and relaxed lending rules in response to the economic impact of the pandemic.
BI said those measures amounted to one the biggest #stimulus programs across emerging markets.
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So far this year, BI has cut rates a total of 125 basis points to a record low, carried out 682 trillion rupiah ($48.37 billion) in quantitative easing, more than half in the form of direct government bond purchases, and relaxed lending rules in response to the economic impact of the pandemic.
BI said those measures amounted to one the biggest #stimulus programs across emerging markets.
Access @reuters article via our Twitter post.
#StaySafe #StayHealthy
View on Instagram