Update COVID-19 in Indonesia: 24,538 confirmed infections, 1,496 deaths (28 May 2020)
29 May 2020 (closed)
USD/IDR (14,502) -231.01 -1.57%
EUR/IDR (16,128) -204.62 -1.25%
Jakarta Composite Index (4,753.61) +37.43 +0.79%
The central bank of Indonesia (Bank Indonesia) decided to cut its benchmark interest rate ("BI seven-day reverse repo rate") by 25 basis points (bps) to 4.75 percent at the two-day policy meeting on 19 and 20 February 2020.
Main reasons for Bank Indonesia to push the key rate lower in February 2020 are comfortably low inflation (by Indonesian standards) and the ongoing novel coronavirus outbreak that is believed to undermine global economic growth.
Read the full analysis in the February 2020 edition of our monthly report. To purchase the monthly report, please send an email to firstname.lastname@example.org or a WA text message to +62(0)8788.410.6944