Indonesia: Bank Indonesia cuts interest rate for first time since 2021

September 18, 2024_ Bank Indonesia has decided to lower its benchmark interest rate by 25 basis points to 6.00%, marking the first reduction since January 2021. In addition, the deposit rate and lending rate were reduced by 0.25% to 5.25% and 6.75%, respectively. This decision was made in light of the stability of inflation and economic growth prospects, with the aim of strengthening the national economy. The news was reported by Investor Daily Indonesia. Bank Indonesia, the country's central bank, is committed to keeping inflation under control, with a target set between 1.5% and 3.5%.