The Open Market Trading Desk at the Fed Bank of New York has released the schedule of large-scale overnight and term repurchase agreement (repo) operations for the monthly period from April 14, 2020 - May 13, 2020. The Desk intends to reduce the frequency of some repo operations during this monthly period in light of more stable repo market conditions. Beginning on Monday, May 4, 2020, the Desk intends to return to regularly conducting one overnight repo operation per day in the morning and to remove the afternoon overnight repo operation. In addition, the frequency of three-month repo operations will be reduced to once every two weeks from once a week. The Desk will continue to conduct one-month repo operations once per week. (New York Fed) Indonesia’s central bank is expected to lower borrowing costs for a third straight month as policymakers take unprecedented steps to bolster the economy amid the coronavirus pandemic. BI will cut its benchmark rate by 25 bps Tuesday to 4.25%, according to 18 of 28 economists surveyed by Bloomberg. One economist predicted a 50 basis-point cut, while nine expect no change. The central bank has reduced the key rate by a cumulative 1.5 percentage points since last year and has said it still sees room for additional easing. (Bloomberg) Source: Danareksa Sekuritas Debt Research Photo by Luke Stackpoole on Unsplash