FOREX TradingCharts.com

Financial News: Indonesia CB Cuts Interest Rate For First Time

Indonesia CB Cuts Interest Rate For First Time In Nearly 2 Years

07/18/2019 - 05:17:00 (RTTNews)

(RTTNews) - Indonesia's central bank cut its key interest rate on Thursday, for the first time in nearly two years, joining its peers who have reduced rates ahead of a possible rate cut from the US Federal Reserve.

The Board of Governors, led by Governor Perry Warjiyo, decided to reduce the 7-day reverse repo rate by 25 basis points to 5.75 percent, Bank Indonesia said in a statement. The decision was in line with economists' expectations.

"The policy was pursued in line with the continued low forecast of inflation and the need to push the momentum of economic growth, amid conditions of uncertainty in the declining global financial market and controlled external stability," the bank said.

"Going forward, Bank Indonesia sees open space for accommodative monetary policy in line with the low inflation forecast and the need to push for further economic growth momentum."

The latest reduction was the first since September 2017.

The bank had hiked interest rates by a cumulative 175 basis points in six instances between May and November last year, and thereafter, left them unchanged for seven policy sessions.

In June, the bank cut the reserve requirement for banks by 50 basis points to provide sufficient liquidity in the banking system to support lending to the real economy.

Both the deposit and lending rates were reduced by a quarter-point each to 5 percent and 6.5 percent, respectively.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


European Economics Preview: UK Public Sector Finance Data Due (01 hr(s), 19 min(s), 14 sec(s) ago)
(RTTNews) - Public sector finance data from the UK is due on Wednesday, headlining a light day for ...Full Story»

RBNZ's Hawkesby Says 50 Bps Rate Cut Reduce Probability Of Unconventional Tools (13 min(s), 46 sec(s) ago)
(RTTNews) - A decisive rate cut in August has reduced the need for unconventional tools, Reserve B ...Full Story»

Australia's Leading Index Signals Around Trend Growth: Westpac (48 min(s), 46 sec(s) ago)
(RTTNews) - Australia's leading index moved above trend since November last year, signaling th ...Full Story»

New Zealand Credit Card Spending Data Due On Wednesday (23 min(s), 46 sec(s) ago)
(RTTNews) - New Zealand will on Wednesday release July figures for credit card spending, highlight ...Full Story»

UK Supermarket Sales Struggling To Grow - Kantar (52 min(s), 46 sec(s) ago)
(RTTNews) - UK grocery sales were flat year-on-year in the twelve weeks to August 11, suggesting t ...Full Story»

Hong Kong Inflation Steady In July (33 min(s), 46 sec(s) ago)
(RTTNews) - Hong Kong's consumer price inflation remained unchanged in July, data from the Cen ...Full Story»

Portugal Producer Prices Fall Further (35 min(s), 46 sec(s) ago)
(RTTNews) - Portugal producer prices declined further in July, figures from Statistics Portugal sh ...Full Story»

Poland Average Gross Wages Rise Less Than Expected (31 min(s), 46 sec(s) ago)
(RTTNews) - Poland's average gross wages rose at a less-than-expected rate in July, figures fr ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

European Economics Preview: UK Public Sector Finance Data Due

08/21/2019 - 00:19 AM (RTTNews)
(RTTNews) - Public sector finance data from the UK is due on Wednesday, headlining a light day for ...Full Story>>

RBNZ's Hawkesby Says 50 Bps Rate Cut Reduce Probability Of Unconventional Tools

08/20/2019 - 23:52 PM (RTTNews)
(RTTNews) - A decisive rate cut in August has reduced the need for unconventional tools, Reserve B ...Full Story>>

Australia's Leading Index Signals Around Trend Growth: Westpac

08/20/2019 - 23:27 PM (RTTNews)
(RTTNews) - Australia's leading index moved above trend since November last year, signaling th ...Full Story>>

New Zealand Credit Card Spending Data Due On Wednesday

08/20/2019 - 18:02 PM (RTTNews)
(RTTNews) - New Zealand will on Wednesday release July figures for credit card spending, highlight ...Full Story>>

UK Supermarket Sales Struggling To Grow - Kantar

08/20/2019 - 09:31 AM (RTTNews)
(RTTNews) - UK grocery sales were flat year-on-year in the twelve weeks to August 11, suggesting t ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.