ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Indonesia cuts rates and growth outlook as COVID stings economy

Government also pinning hopes on vaccine rollout to return to growth

Bank Indonesia cut its key rate for the first time in three months on Thursday, as the country pins hopes on looser monetary policy and its mass vaccine rollout to bolster its flagging economy. (Source photos by Reuters) 

JAKARTA -- Indonesia's central bank lowered its benchmark interest rate for the first time in three months and lowered its growth outlook for this year, as the country continues to struggle with the coronavirus pandemic.

Bank Indonesia on Thursday cut the seven-day reverse repo rate to 3.50% from the previous 3.75%, bringing the rate to the lowest since at least 2016 when the central bank began using the rate as its benchmark.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more