Indonesia's c.bank seen keeping key rate steady on Thursday

Indonesia's c.bank seen keeping key rate steady on Thursday
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JAKARTA (Feb 14): Indonesia's central bank is expected to keep its benchmark interest rate steady at 4.75% on Thursday as it waits for the impact of last year's aggressive easing measures to kick in, a Reuters poll showed.

All 20 analysts surveyed said Bank Indonesia (BI) will likely keep the 7-day reverse repurchase rate at 4.75%.

BI cut its benchmark six times by a total of 150 basis points during January-October last year to lift economic growth.

The central bank has also eased reserve requirement rules, relaxed mortgage requirements and cut the lending rate ceiling for credit cards.

But economic growth slowed in the final quarter of 2016 to 4.94%, below expectations. Full-year 2016 growth was 5.02%.

Indonesia's annual inflation rate was 3.49% in January, inside BI's 3-5% target band.

BI Governor Agus Martowardojo said earlier this month that its monetary stance is currently "cautiously accomodative" for growth.