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Indonesia central bank may cut policy rate but focus is on lower bank lending rate

  • "BI rates are already very low, but lending rates are not coming down yet, and demand is not rising yet.
22 Jan 2021

JAKARTA: Indonesia's central bank has room for further policy rate cuts but at the moment is focusing on getting banks to lower their lending rates, Bank Indonesia (BI) Governor Perry Warjiyo said in a virtual seminar on Friday.

"BI rates are already very low, but lending rates are not coming down yet, and demand is not rising yet.

We are more focusing on solving this credit crunch," Warjiyo said.

BI kept its key policy rates unchanged on Thursday but vowed to direct all instruments into supporting growth.

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