Bank Indonesia cuts rate.

Bank Indonesia (BI) decided on Thursday to cut its benchmark interest rate to help mitigate the potential impacts of the coronavirus outbreak on the country's economic growth.

During a two-day board of governors meeting, the central bank decided to slash its benchmark interest rate, the BI seven-day reverse repo rate, by 25 basis points to 4.75 percent after holding the rate last month.

"The monetary policy remains accommodative and consistent with the projected inflation rate and is a pre-emptive measure to maintain the momentum of domestic economic growth amid a stagnated global economic recovery caused by the coronavirus," BI Governor Perry Warjiyo told a press conference in Jakarta on Thursday.

BI also lowered its deposit facility rate to 4 percent and its lending facility rate to 5.5 percent.

The benchmark rate will transmit into interest rates that affect consumer loans, corporate loans and mortgage interest rates as well as bond yields, among other things.

...