AI Summary
Indonesia's central bank unexpectedly cut its key interest rate by 25 basis points to 5%, aiming to stimulate economic growth. This marks the fifth rate cut since September and the lowest rate since late 2022, defying economist predictions. The move comes after Indonesia posted over 5% GDP growth in Q2, exceeding earlier projections. Bank Indonesia Governor Perry Warjiyo cited low inflation and rupiah stability as justifications, suggesting further cuts are possible. Capital Economics anticipates the rate could reach 4.50% by year-end.
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