JAKARTA - Indonesia’s central bank is expected to keep its benchmark interest rate unchanged on Tuesday and continue to focus on supporting Southeast Asia’s largest economy via quantitative easing, according to analysts in a Reuters poll on Monday.
BI has trimmed the rate four times this year for a total 100 basis points, bought government bonds and loosened lending rules to bolster Indonesia’s coronavirus-stricken economy."has remained fairly weak, despite regaining a bit of ground in recent days". The rupiah had been under pressure after analysts raised concerns over a proposed amendment of the central bank act that could undermine BI’s independence and prolong its debt monetisation operations, which are currently allowed only as a response to the pandemic.
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