JAKARTA - Indonesia’s central bank will likely keep benchmark rates steady at its policy review on Thursday, letting a series of previous loosening steps take effect as it monitors the health of Southeast Asia’s largest economy, a Reuters poll showed.
As part of its efforts to spur growth amid the global economic slowdown, Bank Indonesia last year cut the key rate four times by a total of 100 basis points, lowered the amount of cash banks must keep as reserves and relaxed lending rules. At its last policy meeting in December, BI Governor Perry Warjiyo said the central bank would maintain an accommodative policy in 2020 while supporting consumption and exports.
Meanwhile, Fakhrul Fulvian, an economist with Trimegah Sekuritas expects BI to cut its key rate by 25 basis points this week as a strong currency limits the risk of capital outflows while overall economic data has been weak.
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