Indonesia central bank says stands ready to buy government bonds

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08/07/2019 | 05:39 am
JAKARTA (Reuters) - Indonesia's central bank "stands ready" to buy government bonds, the head of its monetary management office said on Wednesday, as financial markets in Southeast Asia's largest economy are hit by outflows due to fears of a global currency war.

Bank Indonesia (BI) already has been intervening in the currency and bond markets this week. It also held an auction for nondeliverable forward rupiah contracts in the domestic market on Wednesday, Nanang Hendarsah said.

The auction was intended to support the rupiah, which slipped 0.2% by 0330 GMT Wednesday to 14,285 a dollar.

The benchmark 10-year bond yield <ID10YT=RR> fell to as much as 7.618% on Wednesday, after hitting 7.729% a day before, the highest since June 11.

(Reporting by Maikel Jefriando and Gayatri Suroyo; Editing by Kim Coghill)

Thomson Reuters 2019
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