Indonesia's central bank is keeping its key interest rate steady, saying that the current level is in line with efforts to ensure market stability. However, it has cut the amount of cash banks must keep in reserve, to pump liquidity into the financial system. Bank Indonesia has trimmed the benchmark rate twice in 2020, on top of four cuts in 2019. Governor Perry Warjiyo said there's still room for a cut if need be. The rupiah has been a losing proposition among Asian currencies. It fell by 18% from its last peak in January to hit almost 17,000 to the dollar in mid-March.

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