The central bank of Indonesia left its benchmark interest rate (BI 7-day reverse repurchase rate) unchanged at a record low of 3.75% on December 17th 2020. It follows a 25bps cut in the previous meeting which was the fifth rate cut in 2020, bringing total cuts to 125bps, in an attempt to support the economy after the coronavirus-hit. The deposit facility rate (3%) and the lending facility rate (4.5%) were also left on hold.
