The Indonesian rupiah was about flat versus the US dollar today after Indonesia’s central bank lowered interest rates.
The Bank Indonesia lowered its benchmark 7-day Reverse Repo Rate by 25 basis points to 5.5% today. The central bank reduced other interest rates by 25 basis points as well. The statement cited the following reasons for the decision:
The policy is consistent with low inflation projected below the midpoint of the target corridor, attractive returns on domestic financial investment assets that support external stability, as well as a pre-emptive measure to safeguard economic growth momentum moving forward against the impact of global economic moderation.
USD/IDR was little change at $14,239 as of 15:38 GMT today.
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