Indonesia Central Bank Cuts Rates by 25 Basis Points, as Expected

MACROECONOMICS - JAKARTA. Indonesia's central bank cut its key interest rate on Wednesday, as expected by the market, resuming its monetary easing after holding policy steady at its previous three meetings.

Bank Indonesia lowered the benchmark 7-day reverse repurchase rate, known as the BI Rate, by 25 basis points to 5.50%, as expected by 20 of 32 economists polled by Reuters. The rest had predicted BI would stand pat.

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