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Indonesia cuts interest rates to boost growth

Indonesia has cut interest rates for the first time in nearly two years as Southeast Asia’s largest economy seeks to boost economic growth.
Indonesia cuts interest rates to boost growth ảnh 1People walk past a mock one thousand Rupiah coin on display at Bank Indonesia's headquarters in Jakarta. (File photo: REUTERS)

Jakarta (VNA) – Indonesia has cutinterest rates for the first time in nearly two years as Southeast Asia’slargest economy seeks to boost economic growth.

Bank Indonesia (BI) on July 18 reduced the keylending rate 25 basic points to 5.75 percent, a decision made ahead of ananticipated rate cut by the US Federal Reserve (Fed) later this month.

BI also lowered its deposit and lendingfacilities rates by 25 basic points to 6.5 percent and 5 percent respectively.

BI Governor Perry Warjiyo said the decision wasmade because the bank estimates inflation will remain low and it needs tomaintain the momentum for the country’s economic growth.

Indonesia’s economy grew at 5.07 percent in thefirst quarter of this year-VNA
VNA
#cut interest rates#Southeast Asia#largest economy#boost economic growth#Bank Indonesia#key lending rate#US Federal Reserve (Fed)#BI Governor Perry Warjiyo#Vietnamplus#Vietnam News Agency
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