Bank Indonesia unexpectedly cuts interest rate to bolster growth
Jakarta
INDONESIA'S central bank unexpectedly cut its main interest rate for the first time in three years, joining global counterparts in easing monetary policy to support South-east Asia's biggest economy as inflation cools.
Bank Indonesia governor Agus Martowardojo and his board lowered the reference rate to 7.5 per cent from 7.75 per cent, the authority said on Tuesday. All 20 economists surveyed by Bloomberg News had predicted no change. The central bank also reduced the rate it pays lenders on …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Luxury sector outlook clouded by China’s slow recovery
TikTok CEO expects to defeat US restrictions: ‘We aren’t going anywhere’
TikTok artists and advertisers to stay with app until ‘door slams shut’
Biden signs Ukraine aid, TikTok ban Bills after Republican battle
UAE announces US$544 million for rain repairs, says lessons 'learned'
HSBC says growing Chinese wealth fuels client investments in US