Reported about 14 hours ago
In a surprising move, Bank Indonesia has cut its key interest rate by 25 basis points to 5.75% in an effort to stimulate economic growth, despite the rupiah's recent decline past 16,000 to the dollar. This decision defied analysts' expectations of maintaining the rate at 6% and comes as the central bank aims to balance growth support with currency stability. Indonesian stocks rose as a result, though the rupiah faced continued pressure. The bank emphasized its commitment to coordinating with the government to boost economic activity, aligning with President Prabowo Subianto's target for rapid growth.
Source: YAHOO