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Indonesia Takes a Closer Look at Interest Rate Cut
May 18, 2019
After increasing interest rates in 2018 by 175 basis points, Bank Indonesia revealed that it may cut interest rate based on how the global financial markets and economy play out. This is the first time that the country’s central bank has given any indication of rate cuts after a number of hikes the previous year.
At the moment, the benchmark interest rate in Indonesia stands at 6% and Bank Indonesia has left it unchanged, as it does not want to destabilise its currency, which is under pressure due to the ongoing trade war between the US and China and general global slowdown. The economic policy of the central bank is cautious neutral and dependent on the data.
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