Friday July 3, 06:22 AM
Indonesia c.bank cuts interest rate by 25 bps
JAKARTA, July 3 (Reuters) - Indonesia's central bank rate
decision following monthly policy meeting.
KEY DATA:
Announcement date Rate (percent)
-----------------------------------
03-July-2009 6.75
03-June-2009 7.00
05-May-2009 7.25
03-April-2009 7.50
04-March-2009 7.75
04-Feb-2009 8.25
07-Jan-2009 8.75
04-Dec-2008 9.25
06-Nov-2008 9.50
CONTEXT:
- The central bank has cut rates from 9.5 percent since
December as monetary authorities globally slashed borrowing costs
to try to revive the ailing global economy.
- Most central banks have stopped cutting rates as signs have
emerged that the worst of the global slump is over, prompting
financial markets to start pricing in when rates might start to
rise again.
- Analysts in a Reuters poll had expected Bank Indonesia to
cut its interest rate by 25 basis points to a record low
of 6.75 percent on Friday.
- They expect rates to fall to 6.50 percent by the end of the
year, the poll showed.
- Data on Wednesday showed annual inflation in June fell to
3.65 percent, its lowest level in nine years.
- Bank Indonesia Deputy Governor Hartadi Sarwono said on June
29 there was room to cut rates again.
LINKS:
- BI rate details...................................
- Stories on Indonesia's economy...........
- Stories on Indonesia's central bank......
(Reporting by Adriana Nina Kusuma; Writing by Sonya Angraini;
Editing by Ed Davies)
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