Indonesia c.bank to extend monetary stimulus to 2021

BANK INDONESIA / BI - JAKARTA. Indonesia's central bank will continue to use all its instruments to support economic growth in 2021, Governor Perry Warjiyo said on Thursday, while urging commercial banks to lower their credit rates and expand lending.

"Bank Indonesia (BI) will continue to direct all policy instruments to support national economic recovery," Warjiyo said at an annual meeting with senior government officials and top bankers. "Monetary stimulus will continue in 2021."

This year, BI has cut interest rates five times by a cumulative 125 basis points, bought billions of dollars of government bonds and relaxed lending rules in response to the economic impact of the coronavirus pandemic.

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