“There is room for further policy rates cut,” Bank Indonesia (BI) Governor Perry Warjiyo said in a virtual seminar on Friday, adding that the central bank’s focus, however, is on getting the bank lending rates down first. Warjiyo said: “BI rates are already very low, but lending rates are not coming down yet, and demand is not rising yet. We are more focusing on solving this credit crunch.” The central bank maintained its 7-day reverse repo rate at 3.75% at its January monetary policy meeting held on Thursday. After the policy announcement, the Governor said that the interest rate decision consistent with a low inflation outlook, external stability and effort to support the economy. Market reaction The Indonesian rupiah came under fresh selling pressure on the above comments, as USD/IDR bounced-off lows and regained the $14K mark. The spot was last seen trading at 14,030, adding 0.36% on a daily basis. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD options market sheds bearish bias FX Street 2 years “There is room for further policy rates cut,” Bank Indonesia (BI) Governor Perry Warjiyo said in a virtual seminar on Friday, adding that the central bank’s focus, however, is on getting the bank lending rates down first. Warjiyo said: "BI rates are already very low, but lending rates are not coming down yet, and demand is not rising yet. We are more focusing on solving this credit crunch." The central bank maintained its 7-day reverse repo rate at 3.75% at its January monetary policy meeting held on Thursday. After the policy announcement, the Governor said that the interest rate decision consistent with… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
