JAKARTA — Indonesia's central bank kept its benchmark interest rate on hold on Thursday, as expected, pausing in an easing cycle it began in January.
Bank Indonesia (BI) decided to hold the benchmark at 6.75%, it said in a statement. It also left the seven-day reverse repurchase rate, which will become the central bank's new benchmark come Aug 19, at 5.50%.
BI's other monetary operation rates, the deposit and lending facility rates, were kept at 4.75% and 7.25%, respectively.
All but one of 24 analysts surveyed by Reuters had expected BI to hold rates steady on Thursday.
At each of its first three monthly meetings this year, BI cut the benchmark rate by 25 basis points to try to boost growth, as the outlook for inflation and current account deficit provided room for easing.
The central bank targets annual inflation at 3-5% and the pace in March was 4.45%