Indonesia's Central Bank Surprises with Rate Cut

BI RATE - JAKARTA. Indonesia's central bank cut interest rates in a surprise move on Wednesday, stepping up support for Southeast Asia's largest economy against a backdrop of global uncertainties.

Bank Indonesia (BI) trimmed the benchmark 7-day reverse repurchase rate by 25 basis points to 5.00%, its fifth rate cut since September taking the rate to its lowest level since late 2022.