Indonesia's central bank maintained its key rate on Thursday ahead of adopting a new policy rate in August.
The Board of Governors of Bank Indonesia, led by Governor Agus Martowardojo, kept the interest rate at 6.75 percent as expected by economists. The bank had reduced the rate by cumulative 75 basis points so far this year.
The bank left its lending facility rate at 7.25 percent and deposit facility rate, known as FASBI, at 4.75 percent.
Gareth Leather, a senior Asia economist at Capital Economics expects the reference rate to remain on hold at 6.75 percent until August, when the new seven-day reverse repo will become the main policy rate.
Provided the new rate regime is eventually effective in getting commercial banks to lower their lending rates, shifting to a new policy rate would represent a loosening of monetary conditions, the economist noted.
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