Bank Indonesia to Play a More Significant Role in the National Economic Recovery: Governor

Upon request from the President of Indonesia, Bank Indonesia (BI) will increase its efforts towards assisting the nation’s comeback from the effects of COVID-19, with Governor Perry Warjiyo stating that BI will continue to direct all policy instruments in favour of an economic recovery.

To date, in order to cope with the economic implications of the pandemic, the Governor noted that BI has cut interest rates to a record low by 125 basis points, implemented quantitative easing measures worth IDR 682 trillion (more than half of which has come via direct government bond purchases), and relaxed its lending rules.

Warjiyo added that BI’s benchmark rate would continue to rema...