Indonesia surprises markets with a rate cut, rupiah slides
JAKARTA : Indonesia defied market expectations by cutting its key interest rate, moving to bolster economic growth even after the local currency’s recent slide beyond the key level of 16,000 to the dollar. Bank Indonesia (BI) lowered the benchmark BI-Rate by 25 basis points to 5.75% today.
The Indonesia stock market on Friday wrote a finish to the two-day slide in which it had slumped almost 20 points or 0.3 percent. The ...
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