Indonesia cuts rates for fourth time this year

More cuts possible but depend on Fed move and rupiah stability

Bank Indonesia
Bank Indonesia
Photo: Christopher Jeffery

Bank Indonesia cut its policy rate today (October 24), the fourth cut in a row since July, as the central bank steps up support for the faltering economy.

The central bank of South-east Asia’s largest economy lowered its benchmark seven-day reverse repo rate by 25 basis points to 5%, citing the strengthening Indonesian rupiah and strong global headwinds.

With the cut, Bank Indonesia has eased by a total of 100 basis points this year, after tightening 175 basis points to defend the rupiah last

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