Bank Indonesia holds rate, pledges more support for rupiah

JAKARTA, March 20 (Bloomberg): Indonesia’s central bank left its benchmark interest rate unchanged and pledged to do more to support a currency that has weakened as US yields rise.

Bank Indonesia kept the seven-day reverse repurchase rate at 3.5% last week, as predicted by all 28 economists surveyed by Bloomberg. Governor Perry Warjiyo and his board have cut the rate by 150 basis points since the beginning of last year to bolter the economy during the coronavirus pandemic.