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.

 

The Asian Development Bank (ADB) decided to maintain its forecast for Indonesia′s economic growth at 5.1 percent in 2019 and 5.2 percent next year despite an expected slowdown in the Asian economy.
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