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Indonesia to use new policy benchmark

Starting Aug 19, the 7-day reverse repurchase rate will be the benchmark policy rate

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GUIDING HAND: BI's rate cuts this year have been aimed at spurring economic growth, which in 2015 was 4.8 per cent.

Jakarta

INDONESIA'S central bank announced it will use the seven-day reverse repurchase rate as its benchmark policy rate, starting Aug 19, in a bid to better guide market rates. The new policy would mean Bank Indonesia sells securities with an agreement to buy them back within a seven-

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