Central Bank of Indonesia policy rate cut New virus concern concerns February 20 21:14
The Indonesian central bank has decided to cut its policy rate to support the economy as the spread of the new coronavirus spreads.
To date, no cases of new coronavirus infection have been identified in Indonesia, but if the spread of infection is prolonged from the textile industry, which imports raw materials from China, there is concern about the impact on corporate performance. There are also voices.
Under these circumstances, the Indonesian central bank, at a meeting on monetary policy held for two days until the 20th, decided to cut the policy interest rate from 5% to 0.25% to 4.75% in order to support the economy.
"At the press conference after the meeting, Governor Perry said," It is a precautionary measure to maintain the domestic economy as the global economy faces the spread of the new coronavirus. "
As the spread of the new coronavirus spreads, central banks in the Philippines and Thailand have decided to cut interest rates one after another this month, and Southeast Asia is becoming more vigilant about the economic outlook.