Bank Indonesia Deploys USD4.82B to Strengthen Bank Liquidity
(MENAFN) Indonesia’s central bank, Bank Indonesia, is set to pump 78.45 trillion rupiahs ($4.82 billion) into the banking system starting June to strengthen liquidity, a top official revealed Monday.
Solikin M. Juhro, head of the Macroprudential Policy Department and assistant to the governor, confirmed that the bank will lower the secondary reserve requirement from 5% to 4% next month.
"The lowering of secondary reserve requirements will provide additional liquidity space that can be managed more flexibly by banks, totaling 78.45 trillion rupiahs," he said at a press briefing.
In addition, Bank Indonesia will raise the limit on foreign funding for local banks from 30% to 35% of their capital, effective June 1.
These moves are part of a comprehensive stimulus package designed to accelerate national economic expansion.
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