Indonesia's central bank cuts benchmark interest rate by 25 bps to 6.00%, first reduction since Feb 2021.
Indonesia's central bank, Bank Indonesia, has unexpectedly cut its benchmark interest rate by 25 basis points to 6.00%, the first reduction since February 2021. This decision aims to stimulate growth ahead of the anticipated easing cycle by the U.S. Federal Reserve. The bank also lowered its overnight deposit and lending facility rates. Despite pressure earlier this year, the rupiah has stabilized against the dollar, with GDP growth forecasts maintained at 5.1% for 2024.
September 18, 2024
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