Indonesia’s central bank lowered its benchmark rate, the seven-day repo rate, by 25 basis points to 5.75% today (18 July) – its first cut in nearly two years.
“The policy is consistent with low inflation expectations and the need to build economic growth momentum amidst a backdrop of easing global financial market uncertainty and controlled external stability,” says the central bank in a statement.
This is the first cut by Bank Indonesia after seven consecutive meetings. The central bank
- Central banks face loss of independence – Central Banking survey
- Germany issues first ever zero coupon 30-year bond
- Summers and Stansbury warn of ‘black hole’ as central bankers debate solutions
- Overcoming deflation: Japan’s experience and challenges ahead
- Mark Carney on joined-up policy-making, forward guidance and Brexit