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Indonesia central bank may stick to loan rules on vehicles, property until 2023

Indonesia central bank may stick to loan rules on vehicles, property until 2023

FILE PHOTO: A general view of the skyline of Jakarta, the capital city of Indonesia, August 5, 2021. REUTERS/Ajeng Dinar Ulfiana

JAKARTA : Indonesia's central bank may stick to its current rules on downpayments for loans on property and vehicles until 2023 to ensure sufficient credit for businesses amid the recovery from the COVID-19 pandemic, Governor Perry Warjiyo said on Tuesday.

Bank Indonesia will extend its "loose macroprudential policy" on vehicle and property loans until the end of 2022. Warjiyo reiterated in an online news conference with other financial regulators.

"We may also extend this as required until 2023, to ensure that loans and financing from the financial sector for the business world can support the national economic recovery," he said.

(Reporting by Gayatri Suroyo; Editing by Clarence Fernandez)

Source: Reuters

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