88 days ago • Posted by William Ramstein

Bank Indonesia Cuts Rates

Bank Indonesia on Thursday slashed the seven-day reverse repurchase rate by 25 basis points to 3.5%, the lowest level since the rate was introduced in 2016. The move was expected by 22 out of 29 economists surveyed by Bloomberg, while seven forecast no change. The benchmark Jakarta Composite Index reversed earlier gains, falling as much as 0.3% after the GDP forecast was lowered. The rupiah trimmed the day’s losses after the decision, down 0.1% at 14,029 to the U.S. dollar as of 2:41 p.m. local time. Source: Yahoo