Bank Indonesia Delivers Surprise Rate Cut to Support Growth

BANK INDONESIA / BI - JAKARTA. Indonesia's central bank unexpectedly cut policy rates on Wednesday, resuming its monetary easing aimed at propping up growth in Southeast Asia's largest economy despite financial market volatility that has weakened the currency.

Bank Indonesia (BI) cut the benchmark 7-day reverse repurchase rate by 25 basis points to 5.75%, its first cut since September.