Indonesia lowers key interest rate to 4.25%
Passengers wear masks and sit apart from each other on a train in Medan, Indonesia, yesterday. – EPA pic, June 18, 2020.
INDONESIA’S central bank today cut interest rates for the third time this year and scaled back its growth projections as the global pandemic batters Southeast Asia’s biggest economy. Policymakers at Bank Indonesia reduced the key lending rate by 25 basis points to 4.25%, while lowering their full-year economic growth forecast to between 0.9% and 1.9%, from a previous 2.3%.
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