The Bank Indonesia Board of Governors' Meeting decided to maintain the benchmark interest rate or 7 Days Reverse Repo Rate (BI 7DRR) at 3.5% in July 2021.

"At the Meeting of the Board of Governors of Bank Indonesia July 21-22 2021, it was decided to maintain the BI 7DRR at 3.5%," said BI Governor Perry Warjiyo in a virtual press conference on Thursday (17/6).

According to Perry, this policy was taken after considering global and domestic economic conditions.

From a global perspective, the global economic recovery is still continuing, although uncertainty has not subsided amid the spread of COVID-19, particularly due to the delta variant.

"This can be seen from the economic improvement in the United States (US) and China. In addition, a number of countries in Europe have also improved after the recent spike in COVID-19 cases," he said.