Bank Indonesia said Tuesday that it is widening the lower range of the interbank lending rate, or deposit facility rate, with effect from Wednesday to strengthen banks' liquidity management.
The decision is widely seen as a policy easing move by the central bank after it maintained the benchmark BI rate at 6.00 percent this month, following a 25 basis point reduction in November.
With the latest move, the central bank widened the lower end of the deposit facility rate by 50 basis points to 200 basis points below the BI rate.
by RTT Staff Writer
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