Indonesia cuts rates for fourth time this year
More cuts possible but depend on Fed move and rupiah stability
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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