Indonesia Cenbank Says No Outright RRR Cut as It Expands Loan Incentive Scheme

BANK INDONESIA / BI - JAKARTA. Bank Indonesia (BI) is not looking at an across-the-board cut in the reserve requirement ratio (RRR) for banks even as it expands a scheme offering relief for lending to certain sectors to support economic growth, a deputy governor said on Monday.

From June 1, lending to sectors such as automotive, trade, electricity, gas, and water utilities qualify for the incentives for relief from the 9% RRR rate.

Read Also: The Burden on The Middle Class in Indonesia has Increased Significantly