JAKARTA (Reuters) – Indonesia’s central bank has introduced more hikes for banks’ reserve requirement ratio (RRR), telling banks to park 7.5% of their reserves starting July and 9% from September, governor Perry Warjiyo told a news conference on Thursday.
This is more aggressive than Bank Indonesia’s previously announced policy path for RRR, in which BI had set three staggered RRR hikes this year from 3.5% to 6.5% in September.
BI kept interest rates unchanged earlier on Thursday.
(Reporting by Gayatri Suroyo, Fransiska Nangoy and Stefanno Sulaiman; Editing by Kanupriya Kapoor)
