USD/IDR: Rupiah keeps range around 14,400 on Bank Indonesia’s status-quo

Indonesia’s central bank, Bank Indonesia (BI), maintained its benchmark 7-day reverse repo at 3.50% at its March monetary policy meeting held this Thursday, as unanimously expected.

The central bank slashed the interest rates by 25bps in its last meeting, citing that the rate decision was consistent with a low inflation outlook, external stability and effort to support the economy.

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