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Bank Indonesia maintains key rates

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Bank Indonesia maintains key rates

BankIndonesia on July 21 decided to keep its benchmark interest rate at 6.50% and maintainthe deposit facility and lending facility rates at 4.50% and 7%, respectively.

The central bank also kept the seven-day reverse repo rateat 5.25%, in line with its plan to make it the , effective Aug. 19.

The central bank said the loose monetary and macroprudentialpolicy, as well as the government's new tax amnesty bill, will help spur creditand economic growth. Credit growth in Indonesia was subdued despite moderategains in the banking sector in May.

The central bank also said headline inflation during theholy month of Ramadan remained relatively under control, supporting the 2016inflation to stay within the target corridor of 3% to 5%.