Bank Indonesia steps up stimulus in fourth rate cut of 2016
Central bank likely bracing itself for any fallout from an increase in risk aversion
Jakarta
INDONESIA'S central bank cut its benchmark interest rate for the fourth time this year, indicating its willingness to support economic growth in the face of mounting global risks.
Governor Agus Martowardojo and his board cut the reference rate by 25 basis points to 6.5 per cent after local financial markets closed on Thursday, in line with the forecasts of 11 of the 29 economists surveyed by Bloomberg. The rest had predicted the rate would stay unchanged.
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