Indonesia's bid for faster growth stumbles on high loan rates

Jakarta

WHEN Indonesian President Joko Widodo 11 months ago called for the interest rates that borrowers pay banks to "fall, fall, fall" and become single digit, businesses in South-east Asia's largest economy cheered.

But as 2017 begins, lending rates remain double-digit, well above his 9 per cent target, even though the central bank cut its benchmark interest rate six times last year.