Indonesia cuts key rate, buys bonds to soften coronavirus impact

Move aimed at supporting growth despite no cases confirmed in country

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Bank Indonesia Gov. Perry Warjiyo presided over 100 basis points of cuts to its key rate last year. © Reuters

SHOTARO TANI, Nikkei staff writer

JAKARTA -- Indonesia's central bank on Thursday cut its key interest rate for the first time in four months, as concerns grow over the impact of the new coronavirus on the economy.

Bank Indonesia lowered its benchmark seven-day reverse repo rate by 25 basis points to 4.75%. Sixteen of 28 analysts surveyed by Reuters had anticipated the move.

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