Indonesia lowers benchmark rate to 5.75 percent

10 Februar, 2012 | Source: The Jakarta Post

Indonesia′s central bank lowered its benchmark interest rate by a quarter percentage point to 5.75 percent to counter a weakening global economy.

Bank Indonesia spokesman Difi Johansyah said Thursday the decision was a further step to boost Indonesia′s economic growth amid a weakening outlook for the world economy.

The central bank maintained the benchmark rate at 6 percent over the past two months after cutting it by a total of 75 basis points in October and November to fend off a world slowdown.

Indonesia′s economy grew 6.5 percent last year, the fastest pace since the 1997-98 Asian crisis.

 

President Joko Widodo (Jokowi) said Indonesia already enters years of low inflation, with inflation around 3 percent in the past two years.
President of the World Bank group, Jim Yong Kim, here on Tuesday expressed his support to the Indonesian governments plan on the tax reform program, which aimed to increase the state budgets income.
President Joko Widodo (Jokowi) plans to visit Turkey to develop partnership in strategic industry and economy with the country, Foreign minister Retno Marsudi said here on Monday at the state palace after a meeting prior to the presidents visit to Turkey and Germany.
Indonesian Foreign Minister Retno Marsudi and her Maldivian counterpart Mohamed Asim will hold a bilateral meeting in Jakarta on Wednesday (June 21) to discuss the cooperation in tourism sector.
The United Nations Food and Agriculture Organization (FAO) has praised Indonesia for its role in fighting illegal, unreported, unregulated (IUU) fishing, the Indonesian Embassy in Rome said.
Indonesias real GDP growth is projected to increase from 5.2 percent this year to 5.3 percent in 2018, according to the World Banks June 2017 Indonesia Economic Quarterly.
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