Indonesia's central bank holds its benchmark interest rate at 5.75 pct

STORY: Indonesia's central bank holds its benchmark interest rate at 5.75 pct DATELINE: April 19, 2023 LENGTH: 00:02:41 LOCATION: Jakarta CATEGORY: ECONOMY SHOTLIST: 1. Various of press conference STORYLINE: Bank Indonesia (BI) on Tuesday decided to hold the benchmark interest rate unchanged at 5.75 percent after a two-day meeting of the Board of Governors. Governor of BI Perry Warjiyo said that this decision was part of the forward-looking monetary policy to secure the future fall in inflation. "Bank Indonesia believes that the BI 7-Day Reverse Repo Rate (BI7DRRR) of 5.75 percent is sufficient to direct core inflation under control in the range of 2 to 4 percent in the remainder of 2023," Warjiyo said in a press conference on Tuesday. The target is in sight as the country's inflation continues to decline. The inflation rate dropped to 4.97 percent year-on-year in March from 5.47 percent year-on-year in February. Xinhua News Agency correspondents reporting from Jakarta. (XHTV)