Views Article – Sharenet Wealth

Asia, Forex

Indonesia’s new deputy gov sees prolonged monetary easing

JAKARTA, Aug 7 (Reuters) – Bank Indonesia’s new senior deputy governor on Wednesday forecast a long period of monetary policy easing, citing the global economic slowdown, other central banks’ loosening stance and low inflation rate at home.

“We see the direction of monetary policy easing to last long into the future,” Destry Damayanti said, after being inaugurated at the Supreme Court.

Damayanti, an economist who is new to BI, also said the central bank will continue to set accommodative monetary and macroprudential policies, including by injecting liquidity into the banking system to support loan growth.

BI cut its benchmark policy rate last month by 25 basis points, which many analysts saw as the start to an easing cycle. (Reporting by Maikel Jefriando and Tabita Diela;Writing by Gayatri Suroyo; Editing by Richard Borsuk)

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