Escalating COVID-19 cases cast pall over global economic recovery 8 hours ago
Minister of Finance Sri Mulyani Indrawati. ANTARA/HO-Ministry of Finance/pri.
Concerns ride high about global economic recovery continuing to be shadowed by the spike in the number of COVID-19 cases on the global scale as well, especially in several countries covered by the press Jakarta (ANTARA) - Mounting COVID-19 cases have dashed the prospects of global economic recovery in several nations, according to Finance Minister Sri Mulyani Indrawati, concurrently the Financial System Stability Committee chairperson. Concerns ride high about global economic recovery continuing to be shadowed by the spike in the number of COVID-19 cases on the global scale as well, especially in several countries covered by the press, Indrawati stated during the Committee s press conference, here on Monday.
Financial System Stability Committee statement on Bank of Jamaica s 2020 financial stability report
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Boosting the Economy, State-Owned Banks Lower Interest Rates
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Indonesia cuts rate 10th time and lowers GDP forecast
Indonesia s central bank cut it s key interest rates for the 10th time in the current easing cycle, as widely expected, and trimmed its forecast for economic growth in 2021 following a slower-than-expected rebound in the fourth quarter of last year.
Bank Indonesia (BI) lowered its benchmark 7-day reverse repo rate by another 25 basis points to 3.50 percent and has now cut it by a total of 2.50 percentage points since it began easing its monetary policy stance in July 2019 in response to a slowdown in global economic growth.
BI also lowered its other main interest rates by the same amount, lowering the deposit rate to 2.75 percent and the lending rate to 4.25 percent.